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Financial Services Law Insights and Observations

Fannie Mae updates code for Covid-19 deferrals

Federal Issues Covid-19 Fannie Mae Mortgages

Federal Issues

On November 18, Fannie Mae updated Lender Letter 2020-07 to clarify the requirement for reporting a delinquency status code for a Covid-19 payment deferral. Specifically, the lender letter states that in the month the Covid-19 payment deferral is completed and the mortgage loan is reflected as current, the servicer is not required to report delinquency status information to Fannie Mae so long as no other delinquency status code is applicable.

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