Fannie Mae issued Lender Letter LL-2020-02 (Letter), communicating temporary policies to enable servicers to assist borrowers impacted by COVID-19. The Letter provides information relating to forbearance plan eligibility, loan modifications and credit bureau reporting. The Letter also announced the suspension of all foreclosure sales for the next 60 days (except for vacant and abandoned properties).
The temporary policies announced in the Letter are effective immediately.
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