Section 219

Delinquency Reporting and Certification

On the 17th calendar day of each month, Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must take the following actions with respect to Mortgage Loans Mortgage LoansMortgage 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 :

  • Report all delinquent Mortgage Loans Mortgage LoansMortgage 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 to Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! using the Delinquency Early Warning System (“DEWS DEWSMultifamily Delinquency Early Warning System used for reporting the monthly status of Non-Performing Mortgage Loans. ”), which Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. may access through the eServicing System.  Delinquency reporting must include delinquencies for Mortgage Loans Mortgage LoansMortgage 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 on Bond Credit Enhancements, even if the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. also elects to report these delinquencies through CESIR CESIRCredit Enhancement Servicing and Investor Reporting System .
  • Certify as to the delinquency status of all Mortgage Loans Mortgage LoansMortgage 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 .  If a Servicer’s Servicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. 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 portfolio does not include any delinquent Mortgage Loans Mortgage LoansMortgage 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 , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must certify to that effect.

Prior to the 17th calendar day of each month, Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. may use the “Preliminary” Case Status indicator to set up initial delinquency cases in DEWS DEWSMultifamily Delinquency Early Warning System used for reporting the monthly status of Non-Performing Mortgage Loans. .

On the 17th calendar day of each month, Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must change all "Preliminary" Case Status indicators to "Open" for all Mortgage Loans Mortgage LoansMortgage 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 still delinquent or delete remaining initial cases for all Mortgage Loans Mortgage LoansMortgage 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 have cured.  No “Preliminary” Case Status cases can remain as of the 17th calendar day of each month.

If the 17th calendar day of a month falls on a weekend or holiday, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must report and certify on the next Business Day Business DayAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. .

Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must complete the “comments section” in each report with important additional information regarding the delinquent 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 including, at a minimum, the following:

  • the Servicer’s Servicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. attempts to contact the delinquent Borrower BorrowerPerson who is the obligor per the Note. ;
  • the cause for the missed payment(s);
  • whether payment is expected before the end of the month;
  • the likelihood of the Borrower BorrowerPerson who is the obligor per the Note. making the next month’s payment;
  • if the payment will not be made before the end of the month of default, whether the Borrower BorrowerPerson who is the obligor per the Note. will voluntarily turn over the monthly net operating income of the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ;
  • the willingness of the Borrower BorrowerPerson who is the obligor per the Note. to work with the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. to resolve the delinquency; and
  • whether 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 is being Special Serviced by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! 's Special Asset Management Special Asset ManagementTeam performing Fannie Mae’s Special Servicing that can be contacted at [email protected]. (SAM) group (Primary Risk Mortgage Loans Primary Risk Mortgage LoansMortgage Loan where Fannie Mae bears all losses or you and Fannie Mae share losses. ) or the Servicers' Special Servicing group (Secondary Risk Mortgage Loans Secondary Risk Mortgage LoansMortgage Loan where you bear all losses until your recourse obligation is exhausted. ).

Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must update at least once per week all delinquency reports with an “Open” status indicator.