Servicing Guide

Published September 9, 2020

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What criteria must be followed when determining eligibility for a disaster payment deferral?

The servicer must not require a complete BRP to evaluate the borrower for a disaster payment deferral if the eligibility criteria are satisfied.

Note: A disaster-related forbearance plan is not required for purposes of determining borrower eligibility for a disaster payment deferral.

In order to be eligible for a disaster payment deferral, the criteria in the following table must be met.

Eligibility Criteria for a Disaster Payment Deferral
  The disaster event must result in
  • a financial hardship (e.g., a loss/reduction of income or increase in expenses) that impacts the borrower’s ability to pay his or her current contractual monthly payment, and

  • either

    • the property securing the mortgage loan experienced an insured loss,

    • the property securing the mortgage loan is located in a FEMA-Declared Disaster Area eligible for Individual Assistance, or

    • the borrower’s place of employment is located in a FEMA-Declared Disaster Area eligible for Individual Assistance.

Note: See Evaluating the Extent and Nature of the Property Damage in D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower for additional information on what constitutes a disaster.

  The servicer must achieve QRPC with the borrower (see D2-2-01, Achieving Quality Right Party Contact with a Borrower for additional information).

Additionally, the servicer must confirm that the borrower

  • has resolved the hardship,

  • is able to continue making the full monthly contractual payment, and

  • is unable to reinstate the mortgage loan or afford a repayment plan to cure the delinquency.

Note: If the mortgage loan was previously modified pursuant to a Fannie Mae HAMP modification under which the borrower remains in “good standing,” then the mortgage loan will not lose good standing and the borrower will not lose any “pay for performance” incentives under the following circumstances:

  • The borrower was on a disaster-related forbearance plan immediately preceding the disaster payment deferral, or

  • The borrower has a disaster-related hardship and the mortgage loan is less than three months delinquent.

  The mortgage loan must be a conventional first lien mortgage loan, and may be a fixed-rate, a step-rate, or an ARM.

Note:The property securing the mortgage loan may be vacant or condemned.

  The mortgage loan must
  • have been current or less than two months delinquent at the time the disaster occurred (e.g., disaster occurs on Mar. 20, the borrower has an LPI of Jan. 1 when the disaster occurred), and

  • be equal to or greater than one month delinquent but less than or equal to 12 months delinquent as of the date of evaluation.

    Note: If a borrower’s hardship is related to disaster but he or she was two or more months delinquent as of the date the disaster occurred, and the servicer determines the borrower can maintain his or her full monthly contractual payment, then the servicer must submit a request for a disaster payment deferral through Fannie Mae’s servicing solutions system for review and obtain prior approval from Fannie Mae.

     

  The mortgage loan must not have previously received a disaster payment deferral as a result of the same disaster event.

Note: The mortgage loan may have previously received a non-disaster payment deferral

  The mortgage loan must not be subject to
  • a recourse or indemnification arrangement under which Fannie Mae purchased or securitized the mortgage loan or that was imposed by Fannie Mae after the mortgage loan was purchased or securitized,

  • a current offer for another retention workout option,

  • an approved liquidation workout option,

  • an active and performing repayment plan or other non-disaster-related forbearance plan, or

  • an active and performing mortgage loan modification Trial Period Plan.

Note: The servicer must refer to Evaluating or Soliciting a Borrower with a Disaster-Related Hardship for a Fannie Mae Flex Modification in D2-3.2-07, Fannie Mae Flex Modification, if

  • the servicer is unable to establish QRPC with a borrower on a disaster-related forbearance plan and the borrower is ineligible for a disaster payment deferral, or

  • the borrower is eligible for a disaster payment deferral but does not respond to the disaster payment deferral offer as described in Soliciting a Borrower for a Post-Forbearance Disaster Payment Deferral.

For more information please see: D2-3.2-06: Disaster Payment Deferral

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