423.03

Borrower Communications

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must send the following maturity notification letters to the BorrowerBorrowerPerson who is the obligor per the Note. :

  • 12 months before the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , send the 12 Month Notice to Borrower – (In Place Loans) (Form 4219):
    • notifying the BorrowerBorrowerPerson who is the obligor per the Note. of the upcoming Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. ;
    • providing ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. contact information; and
    • requesting a detailed payoff plan.
  • 6 months before the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , send the 6 Month Notice to Borrower – (In Place Loans) (Form 4220):
    • notifying the BorrowerBorrowerPerson who is the obligor per the Note. of the upcoming Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. ;
    • requesting proof of a payoff plan (e.g., a commitment letter from another lender or sale contract); and
    • advising the BorrowerBorrowerPerson who is the obligor per the Note. that the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. will be in default if not paid off or refinanced.

Within 6 months of the Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must aggressively pursue a maturity solution for any Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. that “Does Not Meet Criteria” until the BorrowerBorrowerPerson who is the obligor per the Note. provides written proof of a payoff plan, which may include a certified escrow letter, contact information for the new lender with appropriate follow-up by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , or other reasonable evidence.

On the Maturity DateMaturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to issue 1 Short-Term Forbearance Letter for Maturity Defaults (Form 6645) for a term of up to 1 month, provided no other defaults exist.  Default interest must be charged and a forbearance fee should not be collected.