Servicing Guide

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

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What happens if a borrower who has a balloon mortgage loan files bankruptcy before the balloon maturity date?

When a borrower who has a balloon mortgage loan files for bankruptcy before the balloon maturity date, the servicer's ability to ensure the continuation of MI coverage by offering a conditional refinancing to the borrower prior to the balloon maturity date may be affected.

For more information please see: E-2.3-05: Bankruptcies Involving Balloon Mortgage Loans.

Related Articles

What actions must the servicer take on a proposed reorganization plan for a Chapter 11 or a Chapter 13 bankruptcy plan involving a balloon mortgage?

The servicer must ensure the law firm thoroughly reviews the proposed reorganization plan for either a Chapter 11 or a Chapter 13 bankruptcy to determine...

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What actions must be taken when the proposed bankruptcy plan extends beyond the maturity date of the balloon mortgage?

For proposed plans that extend beyond the balloon maturity date, the servicer must ask the law firm to ensure any additional expenses that may accrue...

Read more

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