Federal national mortgage association and you may Freddie Mac computer Expand COVID-19 Origination Suggestions
With the -09 and you will Freddie Mac computer when you look at the Bulletin 2020-21 announced the latest servicer extra for their previously established COVID-19 percentage deferral, and short term condition with other servicer incentives. Freddie Mac computer has the benefit of ideas on Family Affordable Amendment Program (HAMP) good status for a good COVID-19 impacted borrower, and you may late sees/commission indication emails.
Brand new incentive structure is effective , with an increase of details specified in the suggestions. To your COVID-19 payment deferral and practical payment deferral, the latest servicer bonus are $five-hundred. The fresh added bonus to have a fees package is additionally $five-hundred, and you will Federal national mortgage association specifies individuals requirements. For a fold Amendment this new servicer incentive is actually $1,000. Servicer full bonuses for each home loan might possibly be capped from the $step one,000. But not, exercise choices when you look at the processes before productive go out of brand new incentives are not subject to the newest cumulative bonus cap. Federal national mortgage association will bring samples of the new incentive cover inside the an Appendix so you can Bank Letter 2020-09.