Servicing Guide

Published September 9, 2020

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Is it a requirement to report and remit the principal and interest to Fannie Mae for MBS mortgage loans that are part of a bankruptcy?

As long as any mortgage loan remains in its MBS pool, regardless of servicing option or delinquency status, the servicer must report and remit the P&I to Fannie Mae each month as scheduled under the original terms of the mortgage loan. See C-3-01, Responsibilities Related to Remitting P&I Funds to Fannie Mae . See also E-2.3-03, Handling Cramdowns of the Mortgage Debt for more information regarding P&I remittance on loans subject to cramdowns in bankruptcy.

For example, an MBS mortgage loan in an MBS pool issued prior to June 1, 2007 that is current (or has not been in a continuous state of delinquency for at least four consecutive payment due dates) in the month in which the Order of Confirmation is entered will remain in its MBS pool.  

For more information please see: E-2.1-11: Remitting P&I for MBS Mortgage Loans That Are Part of a Bankruptcy 

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