MPF Xtra Servicing – Lender Letter LL-2023-07 (UPDATE)
Effective Date: Immediately (unless otherwise noted)
Fannie Mae published an update to previously published Lender Letter LL-2023-07: COVID-19 Payment Deferral and Fannie Mae Flex Modification for COVID-19 Impacted Borrowers, to clarify reporting requirements.
When the Servicer is evaluating a Borrower who defaulted after completing a COVID-19 payment deferral for a Fannie Mae Flex Modification as required in the Lender Letter, the Servicer is not required to have reported the mortgage loan with reason for delinquency code 22, Energy-Environment Costs, prior to the date of the Flex Modification evaluation.
To gain a full understanding of these topics, Servicers should review the entire Fannie Mae Lender Letter plus any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcement.
- MPF Announcement 2023-101