Servicing Guide

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

View All Servicing Policy Updates

Download PDF

Hint: Ask in a form of a question.

D2-3.2-03: Government Mortgage Loan Modifications (08/17/2016)

This topic contains information on government mortgage loan modifications.

Before recommending a mortgage loan modification or extension for a government mortgage loan to Fannie Mae, the servicer must first obtain the approval of the FHA, HUD, VA, or the RD, as applicable, using any documentation the mortgage insurer or guarantor requires.

For an MBS mortgage loan, the servicer must also see D2-3.1-02, Conditions of a First and Second Lien Mortgage Loan Modification for an MBS Mortgage Loan.

After the servicer obtains all applicable approvals, it must prepare and fully execute the mortgage loan modification agreement required by the FHA, HUD, VA or the RD or, if none is explicitly required, the Agreement for Modification, Re-Amortization or Extension of a Mortgage (Form 181).

The servicer must follow the procedures in Executing and Recording the Mortgage Loan Modification Agreement in F-1-16, Processing a Government Mortgage Loan Modification for executing and, if applicable, recording the mortgage loan modification agreement.

For a completed FHA mortgage loan modification, the servicer must provide all documents to FHA in the time frame that it requires. In the event FHA issues a request for repayment of the incentive payment or partial claim, the servicer must repay the funds.

Related Articles

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.