Fannie Mae s Single-Family Loan Payment Forbearance Choice during Natural Disasters

Fannie Mae s Single-Family Loan Payment Forbearance Choice during Natural Disasters

We have been dedicated to supporting our clients and property owners relying on Hurricane Harvey, and transparency that is providing our investor partners. In reaction towards the current occasions surrounding Hurricane Harvey, we have been supplying these details to aid Mortgage Backed Securities (MBS) and Connecticut Avenue Securities ™ (CAS) investors realize Fannie Mae’s Single-Family Servicing recommendations which relate to cost forbearance during natural disasters.

The steps that are following Fannie Mae’s catastrophe relief flexibilities readily available for servicers to make use of to assist borrowers that servicers have actually determined to possess been influenced by the hurricane.

  1. Catastrophe relief begins with servicers giving a forbearance that is initial for catastrophe data recovery all the way to three months in the event that servicer thinks an all natural disaster has adversely impacted the worth or habitability associated with the home or if perhaps the natural tragedy has temporarily affected the home owner’s power to make payments on his / her mortgage. Continue reading “Fannie Mae s Single-Family Loan Payment Forbearance Choice during Natural Disasters”