The following table lists the incentive fees for certain workout options that will be paid on mortgage loans where Fannie Mae bears the risk of loss.
Workout Option | Incentive Fee | Additional Information | |
---|---|---|---|
Repayment Plan |
$500 |
The following conditions must be satisfied:
|
|
Fannie Mae Flex Modification; Fannie Mae Cap and Extend Modification for Disaster Relief, Fannie Mae Flex Modification |
Number of Days the Mortgage Loan is Delinquent as of the First Trial Period Plan Payment Due Date |
Incentive Fee Amount |
The following conditions apply:
Note: Incentive fees for all other mortgage loans placed in a forbearance plan will be calculated based on the number of days the mortgage loan is delinquent as of the first Trial Period Plan payment due date. |
Less than or equal to 120 days delinquent |
$1,600 |
||
121 days delinquent through 210 days delinquent |
$1,200 |
||
Greater than 210 days delinquent |
$400 |
||
Fannie Mae Short Sale |
Number of Days the Mortgage Loan is Delinquent at the Time the Case is Closed in Fannie Mae’s servicing solutions system |
Incentive Fee Amount |
None |
Less than or equal to 210 days delinquent |
$2,500 |
||
211 days delinquent up to and including 300 days delinquent |
$1,500 |
||
Greater than 300 days delinquent |
$750 |
||
Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure) |
Number of Days the Mortgage Loan is Delinquent at the Time the Case is Closed in Fannie Mae’s servicing solutions system |
Incentive Fee Amount |
None |
Less than or equal to 210 days delinquent |
$2,500 |
||
211 days delinquent up to and including 300 days delinquent |
$1,500 |
||
Greater than 300 days delinquent |
$750 |
||
Fannie Mae HAMP Modification – Servicer Incentive |
Number of Days the Mortgage Loan is Delinquent as of the First Trial Period Plan |
Incentive Fee Amount |
The following conditions must be satisfied:
|
Less than or equal to 120 days delinquent |
$2,100 |
||
121 days delinquent through 210 days delinquent |
$1,700 |
||
Greater than 210 days delinquent |
$900 |
||
Fannie Mae HAMP Modification – Borrower Incentive |
If the borrower’s monthly payment (P&I, taxes, and all related property insurance and HOA or condo association fees, but excluding MI) is reduced by 6% or more, the borrower will earn an annual ”pay for performance” principal balance reduction payment for up to 5 years equal to the lesser of the following:
|
The following conditions must be satisfied:
|
|
Fannie Mae HAMP Modification-Expanded Borrower Incentive |
”pay for performance” principal balance reduction payment of $5,000 |
The following conditions must be satisfied:
|
|
Fannie Mae 2MP Modification – Servicer Incentive |
$500 |
None |
|
Fannie Mae 2MP Modification – Borrower Incentive |
If the borrower's monthly second lien mortgage payment is reduced by 6% or more, the borrower will receive an annual ”pay for performance” principal balance reduction payment of $250 for up to 5 years. |
None |
Related Announcements
The following table provides references to Announcements that are related to this topic.
Announcements | Issue date |
---|---|
Announcement SVC-2018-04 | June 13, 2018 |
Announcement SVC-2017-04 | May 10, 2017 |
Announcement SVC–2016–05 | June 8, 2016 |
Announcement SVC-2015–12 | September 9, 2015 |
Announcement SVC-2015–10 | July 8, 2015 |
Announcement SVC–2015–05 | April 8, 2015 |