With the -09 and you will Freddie Mac computer within the Bulletin 2020-21 launched this new servicer incentive due to their previously launched COVID-19 payment deferral, and you can short term status some other servicer bonuses. Freddie Mac computer also offers tips about Domestic Affordable Amendment System (HAMP) a great condition to have a great COVID-19 inspired borrower, and you can later sees/commission note characters.
The latest extra structure is effective , with additional information given in the suggestions. Towards the COVID-19 payment deferral and you will simple commission deferral, the newest servicer added bonus are $five hundred. The brand new extra to own a payment bundle is also $five hundred, and you will Federal national mortgage association determine some standards. To own a flex Modification new servicer bonus is actually $step one,000. Servicer full incentives per mortgage loan might be capped at $step 1,000. Yet not, work-out selection inside the process before the active date of your the new incentives won’t be susceptible to the fresh new cumulative bonus limit. Fannie mae provides samples of the fresh new bonus cover in an Appendix so you’re able to Bank Letter 2020-09. Federal national mortgage association together with approved a current style of Bank Letter 2020-05 to echo new incentive percentage to possess a cost deferral.
Both Federal national mortgage association and Freddie Mac computer promote an upgraded style of the fresh COVID-19 fee deferral contract- Federal national mortgage association through a link inside updated Bank Letter 2020-07 and you can Freddie Mac in the a connection to help you Bulletin 2020-21.
With regard to HAMP, Fannie mae advises when the borrowed funds financing was once changed pursuant in order to an excellent HAMP modification less than that the borrower remains within the a good position, then your real estate loan does not beat an effective standing plus the debtor does not eradicate any pay for efficiency bonuses throughout the after the points:
