Fannie Mae modifies non-depository seller/servicer liquidity requirements

Federal Issues Covid-19 Fannie Mae Mortgages Non-Depository Institution Forbearance

On June 24, Fannie Mae updated Lender Letter 2020-02 to temporarily modify the minimum liquidity requirements for non-depository institutions. Beginning with the financial quarter ending on June 30, 2020, the Agency Seriously Delinquent Mortgage Rate will include an adjustment for mortgage loans in a Covid-19-related forbearance plan that are 90 days or more delinquent but were current at the start of the Covid-19-related forbearance plan. The letter notes that the Mortgage Bankers Financial Reporting Form will be modified by June 30 to capture forbearance activity.