Servicing Guide

Published September 9, 2020

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When evaluating the borrower for imminent Default for a conventional mortgage loan modification, when must the servicer send the borrower an Adverse Action Notice?

If the servicer requests Fannie Mae’s approval of a conventional mortgage loan modification through Fannie Mae’s servicing solutions system and the mortgage loan is current (i.e., not delinquent or in default) and Fannie Mae declines the borrower’s request, the servicer must send an Adverse Action Notice (Form 182) to the borrower within 30 days of receipt of Fannie Mae’s decision, unless the servicer offers the borrower another retention workout option and the borrower accepts the counteroffer within the 30-day period.

While use of Form 182 is optional, it reflects the minimum level of information the servicer must communicate and illustrates a level of specificity that complies with the requirements of this Guide. The following table provides requirements for the adverse action notice.

The adverse action notice must include...
  A statement that Fannie Mae, as the owner of the mortgage loan, reviewed the mortgage loan modification request.
  Fannie Mae’s contact address shown as:

Midtown Center

1100 15th Street, NW

Washington, DC, 20005

  The reason Fannie Mae did not approve the request.
  The name and contact information of the credit reporting agency used to make the denial decision, if applicable.

When requesting Fannie Mae’s approval for a mortgage loan modification for a borrower facing imminent default, the servicer must either

  • include the draft adverse action notice in its submission to Fannie Mae’s servicing solutions system, or

  • certify it has a process to send the text pre-approved by Fannie Mae for every adverse action notice that is sent in accordance with the requirements of this Guide. See A4-2.1-06, Adverse Action Notification Certification for information on obtaining approval and certification.

For more information see: D2-1-01, Determining if the Borrower's Mortgage Payment is in Imminent Default.

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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