344 0 obj <> endobj 5�Jn����q���:�y�tt8"�`�a`����Ң@�o�����^�b`R? Additional resources: providing links to COVID-19 resources, such as other selling and servicing lender letters and FAQs Updates to Lender Letter on May 5, 2020 Extension of effective date: extending the application dates eligible for these temporary flexibilities to Ju n. 30, 2020 Additions to Lender Letter on Apr. Lender Letter content published Mar. In fact, your loan can be sold multiple times, and you’ll never hear a word about it. The policies in this Lender Letter are effective immediately and are effective until Fannie Mae provides further notice. Fannie Mae updated two Lender Letters yesterday, LL-2020-03 and LL-2020-04, to its single-family sellers communicating temporary policies in response to the COVID-19 national emergency. This Lender Letter provides reminders and temporary flexibilities to support mortgage originations. Today, Fannie Mae updated eight lender letters: LL-2020-02, Impact of COVID-19 on Servicing further extends the suspension of foreclosure-related activities through Dec. 31, 2020.; LL-2020-03, Impact of COVID-19 on Originations and LL-2020-04, Impact of COVID-19 on Appraisals have been updated to extend the temporary policies to loans with application dates on or before September 30, … Fannie Mae sent out a lender letter Thursday announcing that it is extending the application deadline for it’s temporary policies until July 31, 2020. The Fannie Mae Servicer Toolkit is a collection of key resources to help mortgage servicers support their borrowers. Use of the Pre-Negotiation Letter minimizes the risk of a liability claim against Fannie Mae or the Servicer Servicer Primary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). endstream endobj 345 0 obj <. Guide Resources For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. Fannie Mae announced its latest updates regarding Lender Letter LL-2020-04, with additional temporary guidance, including use of virtual inspections for appraisals and renovation loans, and flexibilities for condominium project reviews. 1175 0 obj <>stream Jul 28, 2016 ... Lender Letters are a formal notice to applicable lenders or servicers that provides guidance on Multifamily business information, forms, and processes. Fannie Mae Servicer Toolkit Many mortgage servicers are looking for help with homeowners’ questions, the volume of forbearance inquiries, and changing guidelines. Lender Letter Content published Apr. 30, 2020 Unemployment benefits as qualifying income Lender Letter (LL-2020-04) Updated M ar. Loan Document Update for State Law Developments Fannie Mae released Lender Letter (LL-2020-02), Impact of COVID-19 on Servicing, to its single-family servicers communicating temporary policies to enable servicers to better assist borrowers impacted by COVID-19. If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources. From: Te-Mika Warner, Associate General Counsel . Appraisals LL-2020-05 (Updates) 31, Apr. ;L�ԂF�g�����_ӻ|R�3#et�.n�|z_3gx���3�Fo�N+x,����xJ�4��Ƙ��ČQ�峌Bi��{���>d��e����A�X��A:�~-�����q��A��Zs��t��;�)��G��Sc��BE�:{��6F��2_�E���f��'�s��4�����h��4�b�Ԧ��f��r���{f�h+�$m �1�J J�`���a���2 SS����Bd1X�A�o��H�u����C?쐠�Դ?H�q/�2��$}*�ƁG�|��1�sјKr�U���i���T#�oZe�շs5�|>���yg^��v//���>-W`}AG}�_ӥ(t�D4x�Q���Z��`Q�_�D-�$���d%v�ԟ�%y��9�qyU�ϟ:��G�+.��H����wϭ��v�l��u��l��:�&��u� ����|$�����b��aA�H=. Regardless of specific lender variances, only Fannie Mae-owned, limited cash-out refinance transactions being sold to Fannie Mae and purchase transactions are eligible for the appraisal flexibility shown in the following table: h��Wmo"7�+�x�*Z��+�"��˵:hSiŇ=ؒ��v7U����Y %4�B�c{l�z�g�BKƙZ1i����T+�-Sґ������0%f�����mC+H�����I3�bZ�&��$Y&� �cR�a=Ϥ�a��$��R҇Q+��a&$ɔ�d�U��$$|�v��uL�`��$���)�h7�|X� �����d�p��)�� ���w��0�g������ѷ�|Hg��y�EWO���N�,�L�4. Servicers who have questions about this Lender Letter should contact their Fannie Mae Account Team, Portfolio Manager, or Fannie Mae’s Single-Family Servicer Support Center at 1-800-2FANNIE (1-800-232-6643). Highlights Fannie Mae is updating the Loan Documents for changes to additional reserve requirements in connection with a recent update to Fannie Mae’s Multifamily Underwriting Standards and in response to the ongoing COVID … Multifamily Mortgage Business Lender Letter 20-14 . 23, 2020, updated May 5, 2020 Verbal verification of employment: offering flexibilities related to the lender’s process … h�b```����@��(����� R��ж�%�q��,�ZoĻxEX�1G|�����S����Q Ҩ�qlW)_@�ẹ�OV,�zy�RK�خ��N1�z�Z���J�������f0W��ë�c��S��X���7��.�z�����R���d$:؀$3�i$��AL�@�� f3�;:+:���*���0K���� �HD�;�;00�c�gt� uÌ�a�YɆ�2W\�\��!�(�}�݉�øW@�M��y�M ����{��,L ���@� �Mt� September 24, 2020 . Updated 10/14/20: Fannie Mae updated its Payment Deferral Lender Letter to clarify that a borrower’s acceptance of a payment deferral will result in the mortgage loan’s withdrawal from HAMP and the loss of any future HAMP “pay for performance” incentives. h�bbd```b``� ��+��$ɪo�Lb �e*��V� ��`q�,��ާ`Rl�0"BA$/�FU�� "�wIF�*�)g$��(b`bd`|g`�!���q�� �`r To: All Fannie Mae Single-Family Sellers Appraisal Risk Management Policy Reminders and Resources . introduced in Lender Letter LL-2020-09, Incentive Fees for Retention Workout Options Clarifying when a COVID-19 impacted borrower whose mortgage loan was modified pursuant to HAMP loses good standing Clarification on continued solicitation for a Fannie Mae Flex Modification based on reduced eligibility criteria when a Guide Resources For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. 31, Apr. endstream endobj startxref Q�� � �A LL-2020-03, Impact of COVID-19 on Originations, has been updated to include the following additional sections:. Temporary appraisal requirement flexibilities; Desktop appraisals; Exterior-only inspection appraisals March 23, 2020. This Lender Letter contains the policies previously published in LL-2020-03 on Dec. 10, 2020, with the changes noted below. 22, Updated May 19, Jun. If your mortgage is sold to Fannie Mae, don’t expect any FNMA offer letters to arrive in the mail. Lender Letter content published Mar. Subject: Lender Letter 20 -14 | Updates to DUS Gateway® Data Requirements . Fannie Mae Issues Lender Letters Regarding COVID-19 | Doeren … 370 0 obj <>/Filter/FlateDecode/ID[<6EA31B2ABFFE714C9EEA5F47BC27A8CE>]/Index[344 45]/Info 343 0 R/Length 122/Prev 141509/Root 345 0 R/Size 389/Type/XRef/W[1 3 1]>>stream endstream endobj startxref In recent months, low interest rates and other market factors have triggered record numbers of loan originations. 31, 2020 Mar. See Lender Letter LL-2020-09, Incentive Fees for Retention Workout Options for the new temporary structure for incentive fees for completed repayment plans, payment deferrals/COVID-19 payment deferrals, and Fannie Mae Flex Modification. Age of documentation; Verification of self-employment 1141 0 obj <>/Filter/FlateDecode/ID[<1C4C0F663DD5A24FAD17A974D162E18E>]/Index[1120 56]/Info 1119 0 R/Length 105/Prev 263354/Root 1121 0 R/Size 1176/Type/XRef/W[1 3 1]>>stream July 10, 2020 To: Multifamily Lenders From: Multifamily DUS Gateway® Product Management Team . Fannie Mae Multifamily Mortgage Business 6000 Series Form Loan Documents (Master Lease Documents) 16-10. 23, updated Mar. Today, Fannie Mae released Lender Letter (LL-2020-04), Impact of COVID-19 on Appraisals, to its single-family sellers communicating temporary policies in response to the COVID-19 national emergency. 1120 0 obj <> endobj Fannie Mae updated its Impact of COVID-19 on Servicing Lender Letter to to include a temporary mortgage insurance termination policy change to waive certain payment history requirements for borrowers who have experienced a financial hardship related to COVID-19, and to extend the existing suspension of certain foreclosure-related activities to Jan. 31, 2021. We are here to help you overcome business disruptions, adopt new regulatory and operational procedures, and offer immediate and long-term relief to struggling homeowners and renters. %%EOF 14 Temporary appraisal requirement flexibilities: allowing exterior-only inspection appraisals or desktop appraisals ... HomeStyle Renovation loans the lender will deliver to Fannie Mae after the renovation has been completed.