The servicer must evaluate a mortgage loan for workout options in accordance with D2-3.1-01, Determining the Appropriate Workout Option.
An incentive fee payment for an eligible mortgage loan modification or payment deferral will be disbursed as outlined in the following table.
The servicer enters a closed case into Fannie Mae’s servicing solutions system.
Fannie Mae reviews eligibility for the mortgage loan modification or payment deferral incentive fee and makes the determination based on information provided by the servicer through Fannie Mae’s servicing solutions system.
If eligible, Fannie Mae pays the incentive fee on a monthly basis.
Note: The servicer must not submit a request for expense reimbursement for the incentive fee.
Also see Reimbursing Fannie Mae for a Cancelled Mortgage Loan Modification in F-1-05, Expense Reimbursement for the requirements for reimbursing Fannie Mae when a mortgage loan modification is cancelled.
For more information please see F-1-19, Processing a Workout Incentive Fee