A Texas Section 50(a)(6) loan is eligible for a Fannie Mae Flex Modification if
- the requirements described in Determining Eligibility for a Fannie Mae Flex Modification are satisfied, and
- the mortgage loan is modified in accordance with applicable law.
If the servicer receives a notice from the borrower that a mortgage loan modification fails to comply with Texas Constitution 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 the requirements of Texas Constitution Section 50(a)(6).|
For more information please see: D2-3.2-07: Fannie Mae Flex Modification.