Fannie Mae Expands Forbearance Term
|March 31, 2008|
|Guide Announcement: 08-07 [pdf]|
Beginning on April 11, 2008, and continuing monthly on the 11th calendar day, the Home Saver Solutions Network (HSSN) Reclass Deselection link will include MBS mortgage loans that have been reported to Fannie Mae with a delinquency status code of 09 – forbearance – for six consecutive months and that we intend to reclassify. Servicers are reminded to deselect those mortgage loans through HSSN that are current or that will be reported with a delinquency status code indicating that the loan is no longer in forbearance based on the real-time information that the servicer has for the mortgage loan. The servicer must make the deselection in HSSN by the 15th calendar day of the month in order to prevent an unnecessary reclassification.