Fannie Mae issued an update to Lender Letter LL-2023-07 to clarify a servicing policy related to COVID-19. Per the update to the Lender Letter, Fannie Mae clarified that when the servicer is evaluating a borrower who defaulted after completing a COVID-19 payment deferral for a Fannie Mae Flex Modification, the servicer is not required to have reported the mortgage loan with reason for delinquency code 022 (Energy-Environment Costs) prior to the date of the Flex Modification evaluation. The clarification is effective December 13, 2023.
Click to view the Fannie Mae Update to Lender Letter LL-2023-07: https://www.tenaco.com/wp-content/uploads/2023/12/Fannie-Mae-Update-to-Lender-Letter-LL-2023-07-12-13-23.pdf
