Servicing Guide

Published November 10, 2020

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What are the requirements for removing a mortgage loan from an MBS pool for the purpose of modifying the mortgage loan?

The following table describes the requirements for removal of a mortgage loan from an MBS pool for the purpose of modifying the mortgage loan once the preconditions to make the mortgage loan modification effective have been satisfied.

If the mortgage loan is... Then the mortgage loan must be...

a regular servicing option mortgage loan or a shared-risk special servicing option mortgage loan for which the servicer’s shared risk liability has not expired

purchased by the servicer from the MBS pool.

a special servicing option mortgage loan or a shared-risk special servicing option mortgage loan for which Fannie Mae markets the acquired property

reclassified through Fannie Mae’s standard reclassification process.

Note: For an MBS mortgage loan that is not subject to Fannie Mae’s automatic reclassification process, the servicer must request reclassification or a voluntary repurchase through Fannie Mae’s servicing solutions system.

For more information please see: D2-3.1-02: Working with an MBS Mortgage Loan for Certain Workout Options

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