A Texas Section 50(a)(6) loan is eligible for a disaster payment deferral if
- the requirements described in Determining Eligibility for a Disaster Payment Deferral are satisfied, and
- the application of a disaster payment deferral to the mortgage loan complies with applicable law.
If the servicer receives a notice from the borrower that a disaster payment deferral fails to comply with Texas Section 50(a)(6) requirements, the servicer must immediately, but no later than seven business days after receipt, take the actions listed in the following table.
|✓||The servicer must...|
|Inform Fannie Mae’s Legal department by submitting a Non-Routine Litigation Form (Form 20) and include the borrower notice in its submission.|
|Collaborate with Fannie Mae on the appropriate response, including any cure that may be necessary, within the 60-day time frame provided by requirements of Texas Section 50(a)(6).|
For more information please see: D2-3.2-06: Disaster Payment Deferral