Servicing Guide

Published September 9, 2020

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How should the servicer handle a complete BRP that is received after foreclosure referral but more than 37 days prior to the foreclosure sale date for other mortgage loans?

The following table contains Fannie Mae’s requirements for suspending foreclosure proceedings on all other mortgage loans when a complete BRP is received after foreclosure referral but more than 37 days prior to the foreclosure sale date. 

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

A complete BRP has been received and is being evaluated

No delay in legal action is required.

A complete BRP and a short sale offer have been received

The servicer must attempt to conduct a review of the complete BRP and short sale offer in accordance with Fannie Mae’s required timelines. See D2-2-05, Receiving a Borrower Response Package containing standard review timelines.

If the servicer cannot do so, it must conduct an expedited review of the complete BRP and short sale offer prior to the foreclosure certification date.

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

No delay in legal action is required unless 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.

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

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