Servicing Guide

Published November 10, 2020

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When should a breach or acceleration letter on a conventional second mortgage lien be sent?

The servicer of a conventional second lien mortgage loan must send the borrower a breach or acceleration letter at least 30 days before foreclosure proceedings begin.

When the servicer has information that the property has been abandoned or that the borrower has displayed an obvious lack of concern for the mortgage loan obligation, the breach or acceleration letter must be sent at the earliest possible date, but no later than the 45th day of delinquency.  

For more information please see: D2-2-09, Additional Borrower Contact Requirements for the Servicer of a Second Lien Mortgage Loan

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