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E-3.2-07, Impact of Engagement with a Mortgage Assistance Fund Program Provider (07/13/2022)

If a mortgage assistance fund program provider notifies the servicer that a borrower has been approved for mortgage assistance and the servicer believes the funds will fully reinstate the mortgage loan, the servicer is authorized to postpone foreclosure actions for up to 45 days.

The servicer may extend the suspension of foreclosure actions beyond 45 days, as necessary, to facilitate the processing of the mortgage assistance, provided that

  • it continues to validate with the mortgage assistance fund program provider that the borrower’s status has not changed,

  • the action is in compliance with its agreement with the mortgage assistance fund program provider, and

  • it obtains prior approval from Fannie Mae's SF CPM division (see F-4-02, List of ContactsF-4-02, List of Contacts) for any suspension beyond 60 days.

For additional information, see E-3.4-01, Suspending Foreclosure Proceedings for Workout NegotiationsE-3.4-01, Suspending Foreclosure Proceedings for Workout Negotiations and D2-3.1-05, Interacting with Mortgage Assistance Fund Program ProvidersD2-3.1-05, Interacting with Mortgage Assistance Fund Program Providers.

Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic. 

Announcements Issue Date
Announcement SVC-2022-05 July 13, 2022
Announcement SVC-2021-04 July 14, 2021