Servicing Guide

Published September 9, 2020

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How should the servicer handle a complete BRP received after foreclosure referral but within 15 to 37 days prior to the foreclosure sale date?

The following table provides Fannie Mae requirements for suspending foreclosure proceedings for all mortgage loans when the complete BRP is received after foreclosure referral but within 15 to 37 days prior to the foreclosure sale date.

Complete BRP received after foreclosure referral but within 15 to 37 days prior to the foreclosure sale date
Stage of Evaluation Requirements

The complete BRP has been received and is being evaluated

No delay in legal action is required. The servicer must conduct an expedited review of the complete BRP (and short sale purchase offer, if applicable) prior to the foreclosure certification date.

An Evaluation Notice was sent to borrower and a retention offer has been extended

No delay in legal action is required unless a retention offer is made and the foreclosure sale is within the borrower's 14-day response period.

In those instances, the servicer must delay the foreclosure sale for up to 14 days to allow the borrower to respond.

Note: The servicer must not offer a Mortgage Release option during this time period.

For more information please see: E-3.4-01: Suspending Foreclosure Proceedings for Workout Negotiations 

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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