706.01
| 706.01A | |
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For Primary Risk Mortgage LoansPrimary Risk Mortgage LoansMortgage Loan where Fannie Mae bears all losses or where the Lender and Fannie Mae share losses. , if the BorrowerBorrowerPerson who is the obligor per the Note. offers to reinstate a Non-Performing Mortgage LoanNon-Performing Mortgage LoanMortgage Loan that is subject to an uncured default. at any time after 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. has been transferred to Fannie Mae Special Asset ManagementSpecial Asset ManagementTeam that performs the work of the Special Servicer for Fannie Mae that can be contacted at [email protected] , the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). must notify Fannie Mae Special Asset ManagementSpecial Asset ManagementTeam that performs the work of the Special Servicer for Fannie Mae that can be contacted at [email protected] in writing. Fannie Mae will make the determination of whether to allow reinstatement of the Non-Performing Mortgage LoanNon-Performing Mortgage LoanMortgage Loan that is subject to an uncured default. .
| 706.01B | |
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For Secondary Risk Mortgage LoansSecondary Risk Mortgage LoansMortgage Loan where the Lender bears all losses until the Lender’s recourse obligations are exhausted. , if the BorrowerBorrowerPerson who is the obligor per the Note. offers to reinstate a Non-Performing Mortgage LoanNon-Performing Mortgage LoanMortgage Loan that is subject to an uncured default. at any time after a SWAT has been provided to Fannie Mae, the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). (if not the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. with the risk of loss) will notify the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. in writing and the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. will make the determination of whether to allow reinstatement, subject to applicable law, and provide an updated SWAT to Fannie Mae.