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Electronic documents, signatures, and notarizations for Fannie Mae 2MP modifications are acceptable provided they comply with Fannie Mae's requirements.
See Selling Guide A2-5.1-03, Electronic Records, Signatures, and Transactions for Fannie Mae's requirements for electronic records.
This topic contains the following: If the borrower complies with the terms and conditions of the Trial Period Plan, the 2MP modification will become effective on the first day of the calendar month following the Trial Period Plan as specified in the Trial Period Plan and the mortgage loan modification agreement.
For the servicer to convert the Trial Period Plan to a permanent Fannie Mae 2MP modification, the modification effective date must be on or before December 1, 2017.
Similarly, the Mortgage Bankers Association has published guidelines for a mortgage modification program – One Mod – which essentially follows the same rules and guidelines as the Flex Modification.
When used for the down payment or closing costs, if the value of the asset (as determined above) is at least 20% more than the amount of funds needed for the down payment and closing costs, no documentation of the borrower’s actual receipt of funds realized from the sale or liquidation is required.The servicer must not charge the borrower administrative fees.The servicer must waive all late charges, penalties, stop payment fees, or similar charges upon successful completion of the Trial Period Plan.All mortgage modification decisions will be made by your mortgage servicer subject to all applicable laws, rules and regulations.In April, Fannie Mae announced that it will begin securitizing previously delinquent loans at some point in the second half of 2016.