You must notify the Borrower of its obligation to comply with applicable law:
Required Notice to Existing Borrowers
You must send the attached Compliance with Law Notice (Exhibit A) to all existing Borrowers in accordance with the notice provisions of the Borrower’s Loan Documents.
Required Notice to Borrowers of New Mortgage Loans
You must provide the attached Compliance with Law Notice (Exhibit B) to all Borrowers before closing the Mortgage Loan.
For notices provided to:
- existing Borrowers, you must retain a copy of the notice in your Servicing File and deliver the notice to Fannie Mae, if requested; or
- Borrowers of new Mortgage Loans, you must deliver an electronic copy of the notice in Folder II of the Mortgage Loan Delivery Package.
Unless informed by Fannie Mae, you must comply with Part V, Chapter 4: Asset Management: Loan Document Administration, Section 411: Notice of Lien or Noncompliance with Applicable Laws, Ordinances and Regulations if you become aware of any allegation a Borrower or Mortgaged Property is not complying with the CARES Act or other applicable tenant protection laws.
Please contact the Fannie Mae Deal Team with any questions.