The servicer must communicate with the borrower that the mortgage loan modification will not be binding, enforceable, or effective unless all conditions of the mortgage loan modification have been satisfied, which is when all of the following have occurred:
- the borrower has satisfied all of the requirements of the Trial Period Plan,
- the borrower has executed and returned a copy of the Loan Modification Agreement (Form 3179), and
- the servicer or Fannie Mae (depending upon the entity that is the mortgagee of record) executes and dates (Form 3179).
For more information please see: D2-3.2-07: Fannie Mae Flex Modification.