Fannie Mae issued Lender Letter LL-2025-01, updating the time frames within which routine foreclosure proceedings must be completed in 22 jurisdictions. Per the Lender Letter, Fannie Mae increased the maximum number of allowable days for: California, Colorado, Connecticut, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Minnesota, Mississippi, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, and West Virginia. Fannie Mae also decreased the maximum number of allowable days for: Florida, Massachusetts, New Jersey, Nevada and Oregon. In addition, Fannie Mae added “COVID-19 Foreclosure Moratorium” and “Forbearance” as allowable delays to a foreclosure proceeding, and removed “Unemployment Forbearance” as an allowable delay. The updated time frames apply to all mortgage loans with a foreclosure sale date on or after July 1, 2025.
Click to view the Fannie Mae Lender Letter LL-2025-01: https://www.tenaco.com/wp-content/uploads/2025/05/Fannie-Mae-Lender-Letter-LL-2025-01-04-09-25.pdf
Click to view the Foreclosure Time Frames Compensatory Fee Allowable Delays Exhibit: https://www.tenaco.com/wp-content/uploads/2025/05/Foreclosure-Time-Frames-Compensatory-Fee-Allowable-Delays-Exhibit.pdf
