Fannie Mae issued Lender Letter LL-2021-07 to amend COVID-19 payment deferral provisions. Per the Lender Letter, Fannie Mae updated payment deferral eligibility criteria to permit a mortgage loan to be less than or equal to 18 months delinquent as of the date of evaluation, and eliminated the limit of one COVID-19 payment deferral (changed limit to cumulative deferral of 18 months of past-due P&I payments). The revisions are effective immediately.
Click to view the Fannie Mae Lender Letter LL-2021-07: https://www.tenaco.com/wp-content/uploads/2021/03/Fannie-Mae-Lender-Letter-LL-2021-07.pdf
