The servicer must complete the mortgage loan modification in accordance with Offering a Trial Period Plan and Completing a Fannie Mae Flex Modification in D2-3.2-07, Fannie Mae Flex Modification.
After a mortgage loan modification is executed, the servicer must adjust the mortgage loan as described in the following table.
|✓||The servicer must...|
|For a portfolio mortgage loan, add any amounts to be capitalized to the UPB of the mortgage loan as of the date specified in the agreement. Usually, the capitalization date is one month before the new modified payment will be due.
Note: The servicer may request reimbursement from Fannie Mae when any of its costs are capitalized (see F-1-05, Expense Reimbursement).
|Revise the borrower's payment records to provide for collection of the modified payment.|
|Apply any funds that
|Determine if it must change the servicing fee in accordance with A2-3-02, Servicing Fees for Portfolio and MBS Mortgage Loans.|
For more information see Servicing Guide F-1-28, Processing a Fannie Mae Flex Modification.