423.03

Borrower Communications

The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must send the following maturity notification letters to the Borrower BorrowerPerson who is the obligor per the Note. :

  • 12 months before the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , send the 12 Month Notice to Borrower – (In Place Loans) ( Form 4219 ):
    • notifying the Borrower BorrowerPerson who is the obligor per the Note. of the upcoming Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. ;
    • providing Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. contact information; and
    • requesting a detailed payoff plan.
  • 6 months before the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , send the 6 Month Notice to Borrower – (In Place Loans) ( Form 4220 ):
    • notifying the Borrower BorrowerPerson who is the obligor per the Note. of the upcoming Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. ;
    • requesting proof of a payoff plan (e.g., a commitment letter from another lender or sale contract); and
    • advising the Borrower BorrowerPerson who is the obligor per the Note. that the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 will be in default if not paid off or refinanced.

Within 6 months of the Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must aggressively pursue a maturity solution for any Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 that “Does Not Meet Criteria” until the Borrower BorrowerPerson who is the obligor per the Note. provides written proof of a payoff plan, which may include a certified escrow letter, contact information for the new lender with appropriate follow-up by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , or other reasonable evidence.

On the Maturity Date Maturity DateDate all Mortgage Loan amounts become fully due and payable per the Loan Documents. , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to issue 1 Short-Term Forbearance Letter for Maturity Defaults ( Form 6645 ) for a term of up to 1 month, provided no other defaults exist.  Default interest must be charged and a forbearance fee should not be collected.