Fannie Mae Modifies Non-Depository Seller/Servicer Financial Liquidity Requirements and Extends Suspension of Foreclosure-Related Activities
Today, Fannie Mae updated Lender Letter LL-2020-02, Impact of COVID-19 on Servicing, to its single-family servicers communicating temporary policies in response to the COVID-19 national emergency.
We are announcing a temporary policy change for calculating the non-depository seller/servicer minimum liquidity requirement for mortgage loans in forbearance in response to COVID-19. The changes detailed in LL-2020-02 will be implemented beginning with the financial quarter ending June 30, 2020.
In addition, we are further extending the suspension of foreclosure-related activities through August 31, 2020.
Access the latest investor news and information related to the COVID-19 pandemic on the COVID-19 Investor Resources webpage.