Servicing Guide

Published September 9, 2020

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Once confirmation of a bankruptcy plan, what is timeframe that a regular servicing option mortgage loan may be purchased from an MBS pool?

The following table outlines the time frame within which a servicer may purchase a regular servicing option mortgage loan from an MBS pool.

If a regular servicing option mortgage loan is in an MBS pool… Then the servicer may purchase such MBS mortgage loan…

issued on or after June 1, 2007

following the earlier of:

  • the confirmation of a plan that modifies the terms of the MBS mortgage loan; or

  • the loan having been in a continuous state of delinquency for at least four consecutive monthly payment due dates, or at least eight consecutive payment due dates in the case of a biweekly mortgage loan, without a full cure during that period.

issued prior to June 1, 2007

after the mortgage loan has been in a continuous state of delinquency for at least four consecutive monthly payment due dates, or at least eight consecutive monthly payment due dates in the case of a biweekly mortgage loan, without a full cure during that period.

A regular servicing option MBS mortgage loan that has been repurchased from its MBS pool is not eligible for redelivery.

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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