Servicing Guide

Published November 10, 2020

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

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

Launch Ask Poli  

Download PDF Guide

You can also download the printable ~800 page PDF, which include links.

Download Now

How can an MBS mortgage loan be deselected from being reclassified?

A1-3-06, Automatic Reclassification of MBS Mortgage Loans describes the mortgage loans that Fannie Mae will select for reclassification. On approximately the 11th calendar day of each month, Fannie Mae will post the Eligible for Deselection Report on Fannie Mae’s servicing solutions system containing the MBS mortgage loans that have been reported to Fannie Mae with a delinquency status code indicating forbearance plan or repayment plan that Fannie Mae intends to reclassify. The following table outlines the actions that the servicer must take to deselect a mortgage loan for reclassification, as applicable.      

Step Servicer Action
1

Review the report provided by Fannie Mae on Fannie Mae’s servicing solutions system.

2

Determine whether any mortgage loan identified should be reclassified based on real-time information that the servicer has for the mortgage loan.

3

By the 15th day of the month in which it is notified, deselect those mortgage loans that either

  • are current;

  • will be reported with a delinquency status code to indicate that the mortgage loan is no longer in a forbearance plan or repayment plan, as applicable;

  • the servicer is working with the borrower on a workout option; or

  • the servicer has commenced or resumed collection activities leading to foreclosure proceedings.

The timing of reclassification for an MBS mortgage loan which the servicer continues to report to Fannie Mae with a delinquency status code indicating forbearance plan or repayment plan is based on the MBS Pool Issue Date as outlined in the following table.

Workout Option (as indicated by monthly delinquency status reporting)

MBS Pool Issue Date

Timing of Reclassification

Forbearance Plan

On or after June 1, 2007 through December 1, 2008

After the sixth consecutive month.

All other pool issue dates

By the twenty-fourth month past due, as measured by the LPI date.

Repayment Plan

On or after June 1, 2007 through December 1, 2008

18 months from the first day of the month in which the plan commences.

All other pool issue dates

The mortgage loan will not be reclassified during an active repayment plan.


 

For more information please see Servicing Guide F-1-26: Reclassifying or Voluntary Repurchasing an MBS Mortgage Loan.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

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

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.