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Forbearance

How to initiate a Forbearance Request using Asset Management Network

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Use this resource to support your execution of policy introduced in Fannie Mae Lender Letter LL-2020-02 and to better manage homeowner expectations.

Ready to report to Fannie Mae?

The following instructions explain how to manually report forbearances related to COVID-19 to Fannie Mae using Asset Management Network™ (AMN). The existing Delinquency Status Code Reporting processes, reporting timelines, and other responsibilities still apply. Hint: The details also apply to bulk file uploads.

Visit the Asset Management Network page.

Select the Add New Delinquent Loan link from the Delinquency Reporting section.

Enter the following:

Seller/Servicer Number: Select from drop-down menu.

Loan Number: Enter number.

Status Code: 09 – Forbearance.

Reason Code: 022.
(Note: This Reason Code is currently defined as “Energy-Environment Costs.” However, this will be repurposed for COVID-19.)

Effective Date: First date of the forbearance plan.
Effective date is the first day of the month the forbearance is made effective, which is the first payment due date on the forbearance plan.

Completion Date: First date of the month after completion.
Completion date is the first day of the month that the forbearance plan is expected to be completed, which is the last payment due date on the forbearance plan.

Forbearance Program Type Code: 0 – No Plan.

Click Submit!

What happens after forbearance?

Following forbearance, homeowners are required to repay their loans. However, they are not required to repay missed payments all at once. Using Servicing Management Default Underwriter™ (SMDU™), you can review homeowners for a payment deferral or a loan modification. Reviewing homeowners’ specific circumstances will help you better navigate these workout options.

Learn more

Looking for some background information? Check out our Forbearance Overview for key definitions and information on how forbearance may impact your homeowners.

We’re here for you. Learn more about our approach to COVID-19 for all of our partners and stakeholders.

Trained financial counselors at Fannie Mae’s Disaster Response Network™ are available to work with homeowners who are financially impacted by COVID-19.

Still have questions? Call us at 1-800-2FANNIE and follow these prompts. Please note that hold times may be longer than expected due to high call volume.