Have Servicing Questions? Ask Poli

AskPoli

Fannie Mae customers! Get answers to your Servicing Guide & policy questions with Fannie Mae's AI-powered search tool.

Launch Ask Poli for Servicers  

Guide Resources

Access forms, announcements, lender letters, notices, and more to stay current on our servicing policies.

View Resources  

D2-2-06: Sending a Breach or Acceleration Letter (11/14/2018)

Introduction

This topic contains the following:


Requirements for Conventional Mortgage Loans

The servicer must issue the breach or acceleration letter as described in the following table.

If the property securing a first lien mortgage loan is... Then the servicer must issue the breach or acceleration letter...

not vacant or abandoned

no later than the 75th day of delinquency.

vacant or abandoned and the mortgage loan is greater than 30 days delinquent

within 10 days from the determination of vacancy but no later than the 75th day of delinquency.

Unless the servicer is able to contact the delinquent borrower and is discussing some type of workout option, the servicer must refer the mortgage loan to foreclosure upon expiration of the breach or acceleration letter. See E-1.2-02, Timing of the Foreclosure Referral for Mortgage Loans Generally for the timing and requirements for referring the mortgage loan to foreclosure.

The following table lists the requirements for the content of the breach or acceleration letter.

The breach or acceleration letter must clearly explain...
 

The exact nature of the breach (for example, a default in payments).

 

The action required to cure the breach.

 

The date by which the breach must be cured.

 

The possibility that a deficiency judgment might be pursued if the foreclosure proceedings are undertaken, if applicable.


Requirements for Government Mortgage Loans

For FHA and VA mortgage loans, the servicer must follow applicable FHA and VA guidelines.


Recent Related Announcements

There are no recently issued Announcements related to this topic.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.