[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-290033-en":3,"detail-sidebar-cat-1-en-105":31,"doc-seo-290033-105":74},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":11,"category_id":12,"category_name":13,"doc_title":14,"doc_description":15,"doc_content":16,"file_id":17,"file_url":18,"file_type":19,"file_size":20,"view_count":21,"is_deleted":4,"is_public":11,"is_downloadable":11,"audit_status":11,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":15,"update_tm":29,"read_time":30},290033,8796095461610,"Oliver","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",1,18,"Letters","Fannie Mae Flex Modification Lender Letter LL-2016-06","Lender Letter LL-2016-06 outlines Fannie Mae Flex Modification requirements for all Fannie Mae single-family servicers, replacing Standard and Streamlined Modifications effective on stated dates. It describes borrower eligibility and BRP submission rules based on delinquency duration, implementation timelines, and updates to the Servicing Guide. The letter details documentation, workout option evaluation, property valuation, escrow analysis, HTI ratio calculation, trial period and offer processes, loan agreement execution and recording, post-modification account adjustments, treatment with mortgage insurance, and handling of fees, late charges, and incentive fees.","Lender Letter LL-2016-06  \nDecember 14, 2016 *  \nTo: All Fannie Mae Single-Family Servicers *reposted December 15, 2016 Fannie Mae Flex Modification  \nFannie Mae is introducing a new mortgage loan modification jointly developed with Freddie Mac at the direction of the Federal Housing Finance Agency. The Fannie Mae Flex Modification combines features of the Fannie Mae HAMP, Standard Modification, and Streamlined Modification, and is intended to replace Standard and Streamlined Modifications as of the effective date provided below. The Fannie Mae Flex Modification can be applied to all mortgage loan delinquencies, and to mortgage loans that are determined to be in imminent default in accordance with the Servicing Guide.  \nBorrowers with mortgage loans less than 90 days delinquent must submit a complete Borrower Response Package (BRP) in accordance with this Lender Letter, and will be evaluated for a Fannie Mae Flex Modification which will target a 20% payment reduction and a 40% Housing Expense-to-Income (HTI) Ratio. Borrowers with mortgage loans 90 or more days delinquent are not required to submit a BRP and will be evaluated for a Fannie Mae Flex Modification which will target a 20% payment reduction.  \nEffective Date  \nThe servicer is encouraged to implement the policies in this Lender Letter as early as March 1, 2017; however, the servicer must begin evaluating borrowers for the Fannie Mae Flex Modification no later than October 1, 2017. Once implemented, the servicer must offer the Fannie Mae Flex Modification to all eligible borrowers according to the requirements in this Lender Letter and not evaluate borrowers for a Fannie Mae Standard or Streamlined Modification.  \nDate of Servicing Guide Update  \nThe policy changes in this Lender Letter will be reflected in the October 2017 update of the Servicing Guide.  \nThis Lender Letter covers the following requirements for the Fannie Mae Flex Modification:  \n􀂃 Documentation Requirements  \n􀂃 Determining Eligibility for a Fannie Mae Flex Modification  \n􀂃 Determining Eligibility for a Fannie Mae Flex Modification for a Texas Section 50(a)(6) Mortgage Loan  \n􀂃 Obtaining a Property Valuation  \n􀂃 Performing an Escrow Analysis  \n􀂃 Determining the Fannie Mae Flex Modification Terms  \n􀂃 Calculating the Housing Expense-to-Income Ratio  \n􀂃 Offering a Trial Period Plan and Completing a Fannie Mae Flex Modification  \n􀂃 Soliciting the Borrower for a Fannie Mae Flex Modification  \n􀂃 Handling a Complete Borrower Response Package  \n􀂃 Preparing the Loan Modification Agreement  \n􀂃 Executing and Recording the Loan Modification Agreement  \n􀂃 Adjusting the Mortgage Loan Account-Post Mortgage Loan Modification  \n􀂃 Processing a Fannie Mae Flex Modification for a Mortgage Loan with Mortgage Insurance  \n􀂃 Handling Fees and Late Charges in Connection with a Fannie Mae Flex Modification  \n􀂃 Incentive Fees  \n􀂃 Changes to Fannie Mae Streamlined Modification Post Disaster Forbearance and Fannie Mae Cap and Extend Modification for Disaster Relief  \nThe italicized and underlined topics above have not been altered from policy within the Fannie Mae Servicing Guide as of the date of this Lender Letter. If there are changes to these topics after the date of this Lender Letter, the updated guidance will supersede the existing requirements.  \nDocumentation Requirements  \nIf the mortgage loan is current or less than 90 days delinquent, the borrower must submit a complete BRP except as described below.  \nIf the borrower submitted a complete BRP prior to the 90th day of delinquency, the servicer must use the information from the Uniform Borrower Assistance Form ( Form 710), or equivalent, to determine borrower’s hardship, total assets and income, and the servicer must evaluate the borrower for all workout options in accordance with Servicing Guide D2-3.1- 01 , Determining the Appropriate Workout Option, including the Fannie Mae Flex Modification.  \nIf the mortgage loan is 90 or more days delinquent, a complete BRP is not","cbCaincQ7NODk9wQ","https://ap.wps.com/l/cbCaincQ7NODk9wQ","pdf",162564,3,15,"English","en",105,"# Fannie Mae Flex Modification Overview\n## Effective date and implementation timeline\n## Document updates to the Servicing Guide\n# Key Requirements and Procedures\n## Documentation requirements and BRP submission rules\n## Eligibility criteria for Flex Modification\n## Eligibility for Texas Section 50(a)(6) mortgage loans\n## Property valuation and escrow analysis\n## Determining Flex Modification terms\n## Calculating the Housing Expense-to-Income (HTI) Ratio\n## Trial period plan and completing the Flex Modification\n## Soliciting borrowers\n## Handling a complete Borrower Response Package\n## Preparing, executing, and recording the loan modification agreement\n## Post-modification account adjustments\n## Processing with mortgage insurance\n## Fees, late charges, and incentive fees\n## Post-disaster related changes","[{\"question\":\"What is the purpose of the Fannie Mae Flex Modification in this lender letter?\",\"answer\":\"The letter introduces the Fannie Mae Flex Modification, combining features from the HAMP, Standard, and Streamlined modifications, and intends it to replace Standard and Streamlined Modifications as of the effective date.\"},{\"question\":\"Which borrowers must submit a Borrower Response Package (BRP)?\",\"answer\":\"Borrowers with mortgage loans less than 90 days delinquent must submit a complete BRP. Borrowers with 90 or more days delinquent are not required to submit a BRP, subject to described exceptions.\"},{\"question\":\"What delinquency period and payment/HTI targets does the letter use when evaluating borrowers?\",\"answer\":\"For borrowers under 90 days delinquent, evaluation targets a 20% payment reduction and a 40% Housing Expense-to-Income (HTI) Ratio. For borrowers 90 or more days delinquent, evaluation targets a 20% payment reduction.\"}]","Fannie Mae Flex Modification Lender Letter LL-2016-06 | PDF",1789640050,5,{"code":4,"msg":5,"data":32},[33,39,44,49,53,58,63,66,70],{"id":34,"doc_module":11,"doc_module_name":35,"category_name":36,"show_sort_weight":37,"slug":38},11,"Template","Presentations",90,"presentations",{"id":40,"doc_module":11,"doc_module_name":35,"category_name":41,"show_sort_weight":42,"slug":43},12,"Resumes",80,"resumes",{"id":45,"doc_module":11,"doc_module_name":35,"category_name":46,"show_sort_weight":47,"slug":48},14,"Invoices",70,"invoices",{"id":22,"doc_module":11,"doc_module_name":35,"category_name":50,"show_sort_weight":51,"slug":52},"Posters",60,"posters",{"id":54,"doc_module":11,"doc_module_name":35,"category_name":55,"show_sort_weight":56,"slug":57},16,"Social Media",50,"social-media",{"id":59,"doc_module":11,"doc_module_name":35,"category_name":60,"show_sort_weight":61,"slug":62},17,"Forms",40,"forms",{"id":12,"doc_module":11,"doc_module_name":35,"category_name":13,"show_sort_weight":64,"slug":65},30,"letters",{"id":67,"doc_module":11,"doc_module_name":35,"category_name":68,"show_sort_weight":30,"slug":69},21,"Paper Templates","papers-templates",{"id":71,"doc_module":11,"doc_module_name":35,"category_name":72,"show_sort_weight":4,"slug":73},158,"General","general-158",{"code":4,"msg":75,"data":76},"ok",{"site_id":25,"language":24,"slug":77,"title":14,"keywords":78,"description":15,"schema_data":79,"social_meta":134,"head_meta":136,"extra_data":138,"updated_unix":139},"fannie-mae-flex-modification-lender-letter-ll-2016-06","",{"@graph":80,"@context":133},[81,96,116],{"@type":82,"itemListElement":83},"BreadcrumbList",[84,88,91,93],{"item":85,"name":86,"@type":87,"position":11},"https://docshare.wps.com","Home","ListItem",{"item":89,"name":35,"@type":87,"position":90},"https://docshare.wps.com/template/",2,{"item":92,"name":13,"@type":87,"position":21},"https://docshare.wps.com/template/letters/",{"item":94,"name":14,"@type":87,"position":95},"https://docshare.wps.com/template/fannie-mae-flex-modification-lender-letter-ll-2016-06/290033/",4,{"url":94,"name":14,"@type":97,"image":98,"author":103,"headline":14,"publisher":105,"fileFormat":108,"inLanguage":24,"description":15,"dateModified":109,"datePublished":110,"encodingFormat":108,"isAccessibleForFree":111,"interactionStatistic":112},"DigitalDocument",{"url":99,"@type":100,"width":101,"height":102},"https://docshare.wps.com/thumbnails/fannie-mae-flex-modification-lender-letter-ll-2016-06/290033.png","ImageObject",442,249,{"name":9,"@type":104},"Person",{"url":85,"name":106,"@type":107},"DocShare","Organization","application/pdf","2026-09-23","2026-09-17",true,{"@type":113,"interactionType":114,"userInteractionCount":90},"InteractionCounter",{"@type":115},"ViewAction",{"@type":117,"mainEntity":118},"FAQPage",[119,125,129],{"name":120,"@type":121,"acceptedAnswer":122},"What is the purpose of the Fannie Mae Flex Modification in this lender letter?","Question",{"text":123,"@type":124},"The letter introduces the Fannie Mae Flex Modification, combining features from the HAMP, Standard, and Streamlined modifications, and intends it to replace Standard and Streamlined Modifications as of the effective date.","Answer",{"name":126,"@type":121,"acceptedAnswer":127},"Which borrowers must submit a Borrower Response Package (BRP)?",{"text":128,"@type":124},"Borrowers with mortgage loans less than 90 days delinquent must submit a complete BRP. Borrowers with 90 or more days delinquent are not required to submit a BRP, subject to described exceptions.",{"name":130,"@type":121,"acceptedAnswer":131},"What delinquency period and payment/HTI targets does the letter use when evaluating borrowers?",{"text":132,"@type":124},"For borrowers under 90 days delinquent, evaluation targets a 20% payment reduction and a 40% Housing Expense-to-Income (HTI) Ratio. For borrowers 90 or more days delinquent, evaluation targets a 20% payment reduction.","https://schema.org",{"og:url":94,"og:type":135,"og:title":14,"og:site_name":106,"og:description":15},"article",{"robots":137,"canonical":94},"index,follow",{"doc_id":7,"site_id":25},1790196604]