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. :

  • 18 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 first maturity notification letter 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. (18 Month Notice to Borrower – Choice Refinance Loans (Form 4217)).
  • 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 applicable second maturity notification letter (12 Month Notice to Borrower Marketing Oriented – Choice Refinance Loans (Form 4218) or 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.