Fannie Mae issued Lender Letter LL-2020-13: Automatic Reclassification of Delinquent MBS Mortgage Loans (Letter). Per the Letter, Fannie Mae changed the trigger for automatic reclassification of delinquent MBS mortgage loans from 4 consecutive months delinquent to 24 consecutive months delinquent (measured by the last paid installment date). The change is 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/2020/10/Fannie-Mae-Lender-Letter-LL-2020-13.pdf