Effective for Mortgage Loans secured by a Property located in Oregon with a Mortgage Loan Origination Date on or after August 20, 2020, Fannie Mae is
The Fannie Mae Notice of Accommodations form (Exhibit A), required for Mortgage Loans secured by a Property located in Oregon,
- was updated, and
- now must be provided to any Borrower seeking a new Mortgage Loan.
The Oregon COVID-19 Borrower Relief Act (Oregon Act), codified as Oregon HB 4204, requires Servicers to:
- make certain relief available to Borrowers during Oregon’s COVID-19 Emergency Period (March 8, 2020 through December 31, 2020, as may be extended); and
- provide written notice to each Borrower of their rights to accommodations under the Act.
For any Mortgage Loan secured by a Property in Oregon, you must:
- Obtain Fannie Mae’s approval for all forbearances.
- Deliver the updated Exhibit A mandated by the Act to the Borrower at closing.
Please contact Caroline Elmendorf at (202) 752-5481, or [email protected], with any questions.