If a borrower who completes a disaster payment deferral (see D2-3.2-06, Disaster Payment Deferral for additional information) becomes 60 days delinquent within six months of the disaster payment deferral’s effective date and the servicer is unable to achieve QRPC, then the servicer must evaluate the borrower for a Fannie Mae Flex Modification in accordance with the reduced eligibility criteria in the table below and if eligible, offer the Flex Modification to the borrower no later than the 75th day of delinquency. The servicer is not required to
- receive a complete BRP from the borrower, or
- have previously solicited the borrower for a workout option.
|✓||Reduced Eligibility Criteria When Soliciting a Borrower Who Defaulted after Completing a Disaster Payment Deferral|
|The mortgage loan must be a first-lien conventional mortgage loan.|
|The mortgage loan must not be subject to
The servicer must send the borrower the applicable Flex Modification Solicitation Cover Letter with the Flex Modification Trial Period Plan Solicitation Offer - Not Based on an Evaluation of a BRP Evaluation Notice , or the equivalent, and make appropriate changes to these documents, including the applicable Frequently Asked Questions and as needed to comply with applicable law.
For more information please see: D2-3.2-07: Fannie Mae Flex Modification.