Guide Update 19-03
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Green Mortgage Loan Efficiency Measure Extension
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HIGHLIGHTS |
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Effective October 21, 2019, Fannie Mae is delegating the authority to approve a one-time extension for up to 90 days for any Completion/Repairs that are Efficiency Measures associated with a Green Rewards Mortgage Loan. |
Changes
The Servicer may approve an extension of the due date for completing Efficiency Measures (documented on Addendum to Schedule 6 - Required Repair Schedule) for a Green Rewards Mortgage Loan provided that the extension
- must not exceed 90 days,
- must not change the scope or modify any Efficiency Measures,
- may only be granted once for any Property or Mortgage Loan,
- must be documented in an Amendment to the Loan Agreement, and
- must be uploaded to MAMP.
Questions
Please contact David Miller at (202) 752-6297 or [email protected] with any questions.