Fannie Mae amended Lender Letter LL-2020-13: Automatic Reclassification of Delinquent MBS Mortgage Loans (Letter). Per the amended Letter, Fannie Mae provided additional procedural details for servicers related to the reclassification of delinquent MBS mortgage loans and clarified the effective date. The amended letter is effective in January 2021 for mortgage loans that become greater than 4 consecutive months delinquent (based on December 2020 and January 2021 reporting activity). The original Letter was effective for mortgage loans that are more than 4 consecutive months delinquent on or after February 2021 remittance activity (based on January 2021 reporting activity).
Click here to view the Fannie Mae Lender Letter LL-2020-13: https://www.tenaco.com/wp-content/uploads/2020/11/Fannie-Mae-Lender-Letter-LL-2020-13-10-28-20.pdf
