Toward -09 and you may Freddie Mac inside Bulletin 2020-21 revealed the brand new servicer incentive due to their previously revealed COVID-19 commission deferral, and temporary reputation to many other servicer incentives. Freddie Mac computer now offers strategies for House Reasonable Modification System (HAMP) a beneficial standing to own an effective COVID-19 inspired borrower, and you will later notices/commission note emails.

The fresh new extra structure is useful , with an increase of info given about guidance. Towards the COVID-19 percentage deferral and you can practical percentage deferral, new servicer added bonus try $500. The incentive having an installment package is also $five hundred, and you will Fannie mae determine individuals standards. To possess a fold Amendment the servicer bonus are $step one,000. Servicer complete bonuses per mortgage loan would be capped within $step 1,000. Although not, workout selection for the procedure before the energetic day of the the fresh incentives may not be at the mercy of the latest collective bonus cover. Fannie mae provides types of the latest extra limit in the an enthusiastic Appendix so you’re able to Bank Page 2020-09. Fannie mae and awarded a current version of Bank Letter 2020-05 in order to echo the latest incentive fee for a payment deferral.

Each other Fannie mae and Freddie Mac give an updated sort of the fresh COVID-19 payment deferral contract- Fannie mae because of an association inside upgraded Financial Letter 2020-07 and you will Freddie Mac computer when you look at the an attachment to Bulletin 2020-21.

With regard to HAMP, Fannie mae recommends that when the loan financing was once altered pursuant so you’re able to good HAMP amendment below that your debtor stays within the a beneficial updates, then the home loan doesn’t cure good condition additionally the debtor cannot treat any pay money for abilities bonuses on adopting the things:

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