Secondary Risk Mortgage Loans
Guidance
For a Secondary Risk Mortgage LoanSecondary Risk Mortgage LoanMortgage Loan where the Lender bears all losses until the Lender’s recourse obligations are exhausted. on your ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). WatchlistWatchlistMortgage Loan or Property exhibiting heightened credit risk as identified by the Lender or Fannie Mae. , Fannie Mae may request additional information, including an Action PlanAction PlanServicer’s report to Fannie Mae including detailed analysis of Mortgage Loan and Property issues, Servicer's strategy for resolving issues, and related actions and outcomes. .
Requirements
You must provide all information and Action PlansAction PlansServicer’s report to Fannie Mae including detailed analysis of Mortgage Loan and Property issues, Servicer's strategy for resolving issues, and related actions and outcomes. within 5 Business DaysBusiness DaysAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, a day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. after Fannie Mae’s request.