Fannie Mae Announces Temporary Policies for Selling Loans in Forbearance due to COVID-19
Today, Fannie Mae released Lender Letter (LL-2020-06), Selling Loans in Forbearance Due to COVID-19, to its single-family sellers communicating temporary policies in response to the COVID-19 national emergency.
While lenders are putting in place additional due diligence to ensure borrowers have stable income with which to repay their loans, there is an increase in loans going into forbearance after loan closing and before sale to us. The Lender Letter addresses the eligibility and delivery requirements for these loans.
Learn more about what Fannie Mae is doing in response to the COVID-19 emergency on the Our Approach page.