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D2-2-04: Sending a Borrower a Solicitation Package for a Workout Option (09/13/2017)

Introduction

This topic contains information on sending the borrower a Borrower Solicitation Package for a workout option.

 

Sending a Borrower a Solicitation Package for a Workout Option

If at any time during the delinquency the servicer has achieved QRPC and has not obtained a resolution to the delinquency, the servicer must send the borrower a Borrower Solicitation Package, if a Borrower Solicitation Package has not previously been sent.

A Borrower Solicitation Package consists of the following documents:

  • Borrower Solicitation Letter (Form 745), or equivalent; and

  • Mortgage Assistance Application (Form 710), or equivalent, provided that the equivalent form requests the same financial information and documentation, hardship information, and attestations from the borrower.

Note: The servicer is authorized to include IRS IVES Request for Transcript of Tax Return (IRS IVES Form 4506-C) in the Borrower Solicitation Package.

If the servicer has not achieved QRPC or obtained a resolution to the delinquency by the 45th day of delinquency, the servicer must send either a Borrower Solicitation Letter (Form 745), or equivalent, or a Borrower Solicitation Package.

Note: If the servicer customizes Form 745, it must make the letter available to Fannie Mae upon request and it must retain references to the Homeowner’s HOPE™ Hotline Number (1-888-995-HOPE) within the Borrower Solicitation Package.

The servicer is authorized to

  • mail, fax, or electronically transmit copies of Form 745, or equivalent, and other documents associated with the Borrower Solicitation Package to a borrower; or

  • permit a borrower to copy, print, or download a copy of such documents via a secure servicer-provided Internet website.

See Selling Guide A2-4.1-03, Electronic Records, Signatures, and Transactions for information on electronic record requirements.

 

Related Announcements

The following table provides references to Announcements that are related to this topic.

Announcements Issue Date
Announcement SVC-2017-08 September 13, 2017
Announcement SVC–2017–02 February 15, 2017
Announcement SVC–2016–05 June 8, 2016
Announcement SVC–2015–15 December 16, 2015
Announcement SVC–2015–04 March 18, 2015

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