Supplement 20-15
:  Updated Oregon COVID-19 Borrower Relief Act Notice of Accommodations
Effective:
Retired: 12/31/20
Exhibit A - Updated Oregon Notice of Accommodations.docx

HIGHLIGHTS

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

 

  • updating the Notice of Accommodations form (Exhibit A), and
  • expanding the requirement for you to provide Exhibit A to any Borrower with a newly originated Mortgage Loan. 

 

Primary Changes 

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.

 

New Originations

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.

 

Questions

Please contact Caroline Elmendorf at (202) 752-5481, or [email protected], with any questions.