source:
  type: guide
  id: fnma-svc-f-1-25
  authority: Fannie Mae Servicing Guide F-1-25 — Reclassifying or Voluntary Repurchasing
    an MBS Mortgage Loan
  description: Fannie Mae Servicing Guide F-1-25 — Reclassifying or Voluntary Repurchasing
    an MBS Mortgage Loan.
  coverage_tier: operative
obligations:
- id: fnma-svc-f-1-25-full
  canonical_id: fnma-svc-f-1-25-full
  section: Fannie Mae Servicing Guide F-1-25 — Reclassifying or Voluntary Repurchasing
    an MBS Mortgage Loan
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide F-1-25 — Reclassifying or Voluntary Repurchasing
      an MBS Mortgage Loan
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
    snapshot_id: cf63a82bbb4adfba
    fetched_at: '2026-05-22T23:53:19Z'
    content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
    paragraph_quote: 'F-1-25, Reclassifying or Voluntary Repurchasing an MBS Mortgage
      Loan (12/20/2023) Introduction This Servicing Guide Procedure contains the following:
      General Requirements for Reclassifying an MBS Mortgage Loan Reclassifying a
      Pooled from Portfolio Mortgage Loan Reclassifying an MBS Mortgage Loan Performing
      on a Forbearance Plan or Repayment Plan Reclassifying or Voluntary Repurchasing
      an MBS Mortgage Loan for a Mortgage Loan Modiﬁcation Requirements after a Regular
      or Special Servicing Option MBS Mortgage Loan has been Reclassiﬁed General Requirements
      for Reclassifying an MBS Mortgage Loan Under certain circumstances described
      in the Servicing Guide and below, Fannie Mae will remove a mortgage loan or
      compel the servicer to remove a mortgage loan from an MBS pool and place it
      in Fannie Mae’s portfolio. With the exclusion of PFP mortgage loans with a scheduled/scheduled
      remittance type, MBS mortgage loans (regular and special servicing option mortgage
      loans) removed from MBS pools in this manner will become actual/actual remittance-type
      mortgage loans that Fannie Mae will hold in its portfolio, identifying them
      by the Fannie Mae loan number, the servicer’s loan number, and the property
      address. PFP mortgage loans with an original scheduled/scheduled remittance
      type will remain a scheduled/scheduled remittance type even after being removed
      from the pool. Note: For requirements for repurchasing an MBS mortgage loan,
      see A1-3-01, Requirements for Voluntary Repurchase and Mandatory Repurchase
      of Certain MBS Mortgage Loans in A1-3-02, Fannie Mae-Initiated Repurchases,
      Indemniﬁcations, Make Whole Payment Requests and Deferred Payment Obligations.
      See also A1-3-06, Automatic Reclassiﬁcation of MBS Mortgage Loans for Fannie
      Mae’s selection criteria for automatic reclassiﬁcation of special servicing
      option MBS mortgage loans. The servicer must comply with all payment processing,
      remitting, accounting, and reporting requirements related to servicing reclassiﬁed
      mortgage loans as outlined in A4-1-02, Establishing Custodial Bank Accounts,
      and Part C, Mortgage Loan Payment Processing, Remitting, Accounting, and Reporting.
      If necessary, the servicer must contact its Fannie Mae Investor Reporting Representative
      (see F-4-02, List of Contacts) for assistance. Reclassifying a Pooled from Portfolio
      Mortgage Loan The servicer may conﬁrm that Fannie Mae has reclassiﬁed a PFP
      mortgage loan by reviewing the PFP Reclass Report that is posted on Fannie Mae''s
      investor reporting system. Reclassifying an MBS Mortgage Loan Performing on
      a Forbearance Plan or Repayment Plan A1-3-06, Automatic Reclassiﬁcation of MBS
      Mortgage Loans describes the mortgage loans that Fannie Mae will Published May
      13, 2026 680 select for reclassiﬁcation. The timing of reclassiﬁcation for an
      MBS mortgage loan which the servicer continues to report to Fannie Mae with
      a delinquency status code indicating forbearance plan or repayment plan is based
      on the MBS Pool Issue Date as outlined in the following table. Workout Option
      (as indicated by monthly delinquency status reporting) MBS Pool Issue Date Timing
      of Reclassiﬁcation Forbearance Plan On or after June 1, 2007 through December
      1, 2008 After the sixth consecutive month. All other pool issue dates By the
      twenty-fourth month past due, as measured by the LPI date. Repayment Plan On
      or after June 1, 2007 through December 1, 2008 18 months from the ﬁrst day of
      the month in which the plan commences. All other pool issue dates The mortgage
      loan will not be reclassiﬁed during an active repayment plan. For mortgage loans
      with an MBS pool issue date on or after June 1, 2007 through December 1, 2008,
      on approximately the 11th calendar day of each month, Fannie Mae will post the
      Eligible for Deselection Report on Fannie Mae’s servicing solutions system.
      This report contains the applicable mortgage loans that have been reported to
      Fannie Mae with a delinquency status code indicating forbearance plan or repayment
      plan that Fannie Mae intends to reclassify. The following table outlines the
      actions that the servicer must take to deselect a mortgage loan for reclassiﬁcation,
      as applicable. Step Servicer Action 1 Review the report provided by Fannie Mae
      on Fannie Mae’s servicing solutions system. 2 Determine whether any mortgage
      loan identiﬁed should be reclassiﬁed based on real-time information that the
      servicer has for the mortgage loan. Published May 13, 2026 681 Step Servicer
      Action 3 By the 15th day of the month in which it is notiﬁed, deselect those
      mortgage loans that either • are current; • will be reported with a delinquency
      status code to indicate that the mortgage loan is no longer in a forbearance
      plan or repayment plan, as applicable; • the servicer is working with the borrower
      on a workout option; or • the servicer has commenced or resumed collection activities
      leading to foreclosure proceedings. Reclassifying or Voluntary Repurchasing
      an MBS Mortgage Loan for a Mortgage Loan Modiﬁcation The servicer must ensure
      that an MBS mortgage loan is removed from the MBS pool for the purposes of modiﬁcation
      in accordance with D2-3.1-02, Conditions of a First and Second Lien Mortgage
      Loan Modiﬁcation for an MBS Mortgage Loan. The following table outlines the
      actions the servicer must take to reclassify a special servicing option MBS
      mortgage loan, or to voluntarily repurchase for a regular servicing option mortgage
      loan or a shared-risk special servicing option mortgage loan for which the servicer’s
      shared risk liability has not expired, based on the mortgage loan status at
      the time the mortgage loan modiﬁcation is negotiated. If, at the time the mortgage
      loan modiﬁcation is negotiated... Then... the borrower’s payment default is
      imminent Fannie Mae will reclassify or the servicer will voluntarily repurchase,
      as applicable, the mortgage loan during the fourth month of the Trial Period
      Plan if • the borrower has made the fourth payment of a four-month Trial Period
      Plan, and • the servicer has notiﬁed Fannie Mae of receipt of the payment on
      or before the 15th calendar day (the servicer’s reclassiﬁcation date) of the
      fourth month of the Trial Period Plan. Published May 13, 2026 682 If, at the
      time the mortgage loan modiﬁcation is negotiated... Then... payment default
      has already occurred Fannie Mae will reclassify or the servicer will voluntarily
      repurchase, as applicable, the mortgage loan during the third month of the Trial
      Period Plan if • the borrower has made the third payment of a three-month Trial
      Period Plan, and • the servicer has notiﬁed Fannie Mae of receipt of the payment
      on or before the 15th calendar day (the servicer’s reclassiﬁcation date) of
      the third month of the Trial Period Plan. If the ﬁnal Trial Period Plan payment
      (either third or fourth Trial Period Plan payment as applicable depending on
      the original mortgage loan status) is received after the 15th calendar day (the
      servicer’s reclassiﬁcation or voluntary repurchase date) of the ﬁnal month of
      the Trial Period Plan but before the end of the Trial Period Plan, then it will
      not be possible to reclassify or voluntary repurchase the mortgage loan from
      the MBS pool during the ﬁnal month of the Trial Period Plan. In such event,
      the servicer must extend the Trial Period Plan one month, and the reclassiﬁcation
      or voluntary repurchase date will be the 15th calendar day of such extended
      month. If the servicer has not notiﬁed Fannie Mae of its receipt of the ﬁnal
      Trial Period Plan payment on or before the servicer’s reclassiﬁcation or voluntary
      repurchase date, the servicer shall extend the Trial Period Plan for an additional
      month. If the required Trial Period Plan payments are not made in accordance
      with the Trial Period Plan, Fannie Mae will cancel the case in Fannie Mae’s
      servicing solutions system. The following table outlines the actions that the
      servicer must take after a mortgage loan has completed the Trial Period Plan.
      ✓ The servicer must... Conﬁrm that Fannie Mae has reclassiﬁed an MBS mortgage
      loan by obtaining the Purchase Advice from Fannie Mae''s investor reporting
      system. If Fannie Mae does not include the mortgage loan in its list of mortgage
      loans due for reclassiﬁcation before the month in which the modiﬁed terms become
      eﬀective, the servicer must contact its Fannie Mae Servicing Representative
      (see F-4-02, List of Contacts). After a mortgage loan is reclassiﬁed, follow
      the existing procedure and update the Oﬃcer Signature Date in Fannie Mae’s servicing
      solutions system to close the mortgage loan modiﬁcation case. Apply all subsequent
      payments in accordance with the terms of the modiﬁed mortgage loan. Published
      May 13, 2026 683 Requirements after a Regular or Special Servicing Option MBS
      Mortgage Loan has been Reclassiﬁed When a regular or special servicing option
      MBS mortgage loan has been reclassiﬁed, the servicer must take the actions outlined
      in the following table. ✓ After a regular or special servicing option MBS mortgage
      loan has been reclassiﬁed, the servicer must... Update its internal records
      to • reﬂect the remittance type as actual/actual as of the ﬁrst day of the month
      in which the reclassiﬁcation event takes place; • adjust the PTR to include
      any guaranty fee; • adjust Fannie Mae’s required margin to equal the mortgage
      margin less the servicing fee, if applicable; and • adjust the PTR ﬂoor and
      ceiling to equal the lifetime interest rate ﬂoor and ceiling less the servicing
      fee, if applicable. Report the mortgage loan as an actual/actual remittance
      type, including any activity that occurred for a reclassiﬁed mortgage loan,
      in compliance with the reporting time frames outlined in the Investor Reporting
      Manual. Use the same Fannie Mae loan number that applied to the mortgage loan
      when it was in the MBS pool. Recent Related Announcements The table below provides
      references to recently issued Announcements that are related to this topic.
      Announcements Issue Date Announcement SVC-2023-06 December 20, 2023 Announcement
      SVC-2021-01 January 20, 2021 Announcement SVC-2019-04 June 12, 2019 Published
      May 13, 2026 684'
  judgment: false
