The servicer must evaluate the borrower for Mortgage Release transition options and refer the case to Fannie Mae in accordance with Evaluating a Borrower for Fannie Mae Mortgage Release Transition Options in D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure).
|If the servicer is referring the borrower for the Mortgage Release transition option that allows the borrower to execute…||Then the servicer must submit a…|
a three-month transition option with no rent payment required
Mortgage Release Program Transition Option Referral Form (Form 193).
a twelve-month lease with a market rent payment
Mortgage Release Program Lease Option Referral Form (Form 187).
For more information please see F-1-14, Processing a Fannie Mae Mortgage Release (Deed-In-Lieu of Foreclosure)