Fannie Mae issued Servicing Guide Announcement SVC-2020-07 (Announcement). Per the Announcement, Fannie Mae removed the property-level earthquake insurance requirement for all Puerto Rico properties, and for Guam properties constructed of masonry construction. Fannie Mae also incorporated the payment deferral workout options announced in Lender Letter LL-2020-05, and the incentive fee structure for retention workout options announced in Lender Letter LL-2020-09, into the Servicing Guide. In addition, Fannie Mae updated section F-1-03 of the Servicing Guide to correct a discrepancy related to guaranty fees and the guaranty fee buydown charges drafting schedule. All revisions are effective immediately.
Click to view the Fannie Mae Servicing Announcement SVC-2020-07: https://www.tenaco.com/wp-content/uploads/2020/12/Fannie-Mae-Servicing-Announcement-SVC-2020-07.pdf
