Introduction
This topic contains information on sending a payment reminder notice.
Sending a Payment Reminder Notice
The servicer must send a payment reminder notice to the borrower no later than the 17th day of delinquency if the payment has not been received with the following exceptions:
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the mortgage loan is a second lien mortgage loan (see D2-2-09, Additional Borrower Contact Requirements for the Servicer of a Second Lien Mortgage Loan), or
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the borrower is subject to an active forbearance plan (without regard to whether the forbearance plan provides for reduced or suspended payments).
The following table outlines the requirements for a payment reminder notice.
✓ | Requirements for a payment reminder notice |
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Address the borrower by name. |
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State a desire to work with the borrower to preserve homeownership. |
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State the amount of late charges that are due, if applicable. |
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Explain that the borrower can seek assistance with household budgeting at no charge from HUD-approved housing counseling agencies that can be found on HUD.gov. |
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Inform the borrower about the availability of additional educational resources on Fannie Mae’s consumer website. |
Recent Related Announcements
The table below provides references to recently issued Announcements that are related to this topic.
Announcements | Issue Date |
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Announcement SVC-2023-02 | April 12, 2023 |
Announcement SVC-2020-03 | July 15, 2020 |