Servicing Guide

Published September 9, 2020

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What requirements must be followed when acknowledging receipt of a borrower response package?

Within five business days, the servicer must acknowledge its receipt of a BRP to the borrower in writing, and must indicate whether the BRP is complete or incomplete. The acknowledgment must include the items listed in the following table.

The acknowledgment must include...
 

A statement indicating whether the BRP is complete or incomplete; and if complete, providing any other information required by applicable law.

The servicer’s evaluation process and response time frame.

 

An explanation of the foreclosure process, including that

  • the foreclosure process may continue, and

  • foreclosure referral will not occur if the servicer is reviewing a complete BRP or if the servicer extends an offer for a home retention workout option and the borrower’s response time for acceptance has not expired.

In addition, for borrowers who submit a complete BRP 37 days or less prior to a scheduled foreclosure sale, the servicer must submit an explanation of the servicer’s plans for evaluating the borrower for a workout option and suspending the foreclosure sale, if appropriate.

For more information please see: D2-2-05, Receiving a Borrower Response Package.

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Customers Recommend Ask Poli

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

Guide Resources

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Visit Selling and Servicing Guide Communications and Forms

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