Servicing Guide

Published September 9, 2020

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How should a loan modification be reported to Fannie Mae?

The following table outlines the required servicer actions to report a Fannie Mae mortgage loan modification to Fannie Mae. 

Step Servicer Action
1

Submit a case into Fannie Mae’s servicing solutions system by entering loan-level information, including:

  • a property valuation, and

  • the applicable campaign ID to identify the mortgage loan modification program under which the case is being submitted.

2

Report loan-level data in Fannie Mae’s servicing solutions system upon receipt of the borrower’s first Trial Period Plan payment and all subsequent Trial Period Plan payments under the Trial Period Plan.

If the borrower makes all required Trial Period Plan payments, continue to step 3. If not, cancel the case in Fannie Mae’s servicing solutions system and do not continue to step 3.

3

After application of all Trial Period Plan payments made by the borrower, the servicer must represent and warrant in Fannie Mae’s servicing solutions system that once the sum of payments totals a full contractual payment on the underlying mortgage loan, the borrower has been in a delinquent status (that is, not current in contractual payments) on each of the last four monthly payment due dates and continues to be delinquent.

4

After Fannie Mae’s prior written approval is obtained, if required, and the MBS mortgage loan is reclassified, if applicable, the servicer will update the Officer Signature Date in Fannie Mae’s servicing solutions system to close the mortgage loan modification.

Note: If the pre-modification UPB or the pre-modification LPI reported in Fannie Mae’s servicing solutions system for the closed mortgage loan modification does not agree with the pre-modification UPB or LPI in Fannie Mae’s investor reporting system, the mortgage loan modification will not be processed in Fannie Mae’s investor reporting system until the discrepancy is resolved.

For more information please see Servicing Guide F-1-23: Reporting a Workout Option via Fannie Mae’s Servicing Solutions System.

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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.

Guide Resources

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