Fannie Mae issued Lender Letter LL-2023-04 and Freddie Mac issued Bulletin 2023-21, announcing new relief measures for a loan impacted by a COVID-19 Forbearance. Per the Lender Letter and Bulletin, mortgages previously or currently in COVID-19 forbearance may be eligible for relief from enforcement of representations and warranties under the representations and warranties framework in certain situations. Fannie Mae also expanded the list of eligible loss mitigation solutions that can be used to bring the loan current following a disaster-related forbearance or a COVID-19-related forbearance to include a disaster payment deferral or a COVID-19 payment deferral. The new relief measures went into effect October 18, 2023.
Click to view the Fannie Mae Lender Letter LL-2023-08: https://www.tenaco.com/wp-content/uploads/2023/10/Fannie-Mae-Lender-Letter-LL-2023-08-10-18-23.pdf
Click to view the Freddie Mac Guide Bulletin 2023-21: https://www.tenaco.com/wp-content/uploads/2023/10/Freddie-Mac-Guide-Bulletin-2023-21-10-18-23.pdf
