Fannie Mae Lender Letter 2021-07 COVID-19 Payment Deferral and Fannie Mae Flex Modification for COVID-19 Impacted Borrowers

May 04, 2022

Fannie Mae announced updates to Lender Letter 2021-07, updating the requirements related to performing an escrow analysis to clarify that servicers must spread any escrow shortage repayment amount identified in the subsequent annual study after a COVID-19 payment deferral or a Flex Modification by the reduced eligibility criteria for COVID-impacted borrowers over either the remaining escrow shortage repayment period or another period of up to 60 months.

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