F-1-15, Processing a Government Mortgage Loan Modification (07/08/2015)

the servicer is the mortgagee of record

is authorized to execute the applicable mortgage loan modification agreement and, if applicable, submit it for recordation. The servicer must then take the following actions:

• send a copy of the executed mortgage loan modification agreement to the borrower and to the mortgage insurer or guarantor,

• submit the original executed mortgage loan modification agreement (and recorded, if applicable) to the appropriate custodian, and

• place a copy in the mortgage loan servicing file.

MERS is the mortgagee of record

Fannie Mae is the mortgagee of record and has given the servicer a LPOA that allows it to execute this type of mortgage loan modification on Fannie Mae’s behalf

Fannie Mae is the mortgagee of record, but has not given the servicer a LPOA that allows it to execute this type of mortgage loan modification on Fannie Mae’s behalf

must send the original mortgage loan modification agreement to Fannie Mae’s SF CPM division (see F-4-02, List of ContactsF-4-02, List of Contacts) for execution.

The servicer must send the mortgage loan modification agreement under cover of a transmittal letter that specifies the following:

• the type of action being requested,

• whether the mortgage loan modification agreement will need to be recorded in the public records after it is executed, and

• an address to which the executed mortgage loan modification agreement should be returned.

Fannie Mae will execute the mortgage loan modification agreement and return it to the servicer, regardless of whether the executed mortgage loan modification agreement needs to be recorded.

Note: If the mortgage loan modification agreement needs to be recorded, the servicer must submit it for recordation.