source:
  type: guide
  id: fnma-svc-e-2.1-11
  authority: Fannie Mae Servicing Guide E-2.1-11 — Remitting P&I for MBS Mortgage
    Loans That Are Part of a Bankruptcy
  description: Fannie Mae Servicing Guide E-2.1-11 — Remitting P&I for MBS Mortgage
    Loans That Are Part of a Bankruptcy.
  coverage_tier: operative
obligations:
- id: fnma-svc-e-2.1-11-full
  canonical_id: fnma-svc-e-2.1-11-full
  section: Fannie Mae Servicing Guide E-2.1-11 — Remitting P&I for MBS Mortgage Loans
    That Are Part of a Bankruptcy
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide E-2.1-11 — Remitting P&I for MBS Mortgage
      Loans That Are Part of a Bankruptcy
    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: 'E-2.1-11, Remitting P&I for MBS Mortgage Loans That Are Part
      of a Bankruptcy (07/13/2022) Introduction This topic contains the following:
      Overview Removing Regular Servicing Option MBS Mortgage Loans Upon Conﬁrmation
      of a Bankruptcy Plan Reclassifying Special Servicing Option MBS Mortgage Loans
      Upon Conﬁrmation of a Bankruptcy Plan Overview Unless Fannie Mae has placed
      the mortgage loan in the Stop Delinquency Advance process, the servicer must
      report and remit the P&I to Fannie Mae each month as scheduled under the original
      terms of the mortgage loan as long as any mortgage loan remains in its MBS pool,
      regardless of servicing option or delinquency status. See C-3-01, Responsibilities
      Related to Remitting P&I Funds to Fannie Mae. See also E-2.3-03, Handling Cramdowns
      of the Mortgage Debt for more information regarding P&I remittance on loans
      subject to cramdowns in bankruptcy, and F-1-20, Remitting and Accounting to
      Fannie Mae for details on the Stop Delinquency Advance process. For example,
      an MBS mortgage loan in an MBS pool issued prior to June 1, 2007 that is current
      (or has not been in a continuous state of delinquency for at least four consecutive
      payment due dates) in the month in which the Order of Conﬁrmation is entered
      will remain in its MBS pool. Removing Regular Servicing Option MBS Mortgage
      Loans Upon Conﬁrmation of a Bankruptcy Plan The following table outlines the
      time frame within which a servicer may purchase a regular servicing option Published
      May 13, 2026 421 mortgage loan from an MBS pool. If a regular servicing option
      mortgage loan is in an MBS pool… Then the servicer may purchase such MBS mortgage
      loan… issued on or after June 1, 2007 following the earlier of: • the conﬁrmation
      of a plan that modiﬁes the terms of the MBS mortgage loan; or • the loan having
      been in a continuous state of delinquency for at least four consecutive monthly
      payment due dates, or at least eight consecutive payment due dates in the case
      of a biweekly mortgage loan, without a full cure during that period. issued
      prior to June 1, 2007 after the mortgage loan has been in a continuous state
      of delinquency for at least four consecutive monthly payment due dates, or at
      least eight consecutive monthly payment due dates in the case of a biweekly
      mortgage loan, without a full cure during that period. A regular servicing option
      MBS mortgage loan that has been repurchased from its MBS pool is not eligible
      for redelivery. Reclassifying Special Servicing Option MBS Mortgage Loans Upon
      Conﬁrmation of a Bankruptcy Plan The following table outlines the time frame
      within which a special servicing option mortgage loan may be reclassiﬁed from
      an MBS pool. If a special servicing option mortgage loan is in an MBS pool...
      Then the mortgage loan may be reclassiﬁed... issued on or after June 1, 2007
      following the earlier of: • the conﬁrmation of a reorganization plan that modiﬁes
      the terms of the MBS mortgage loan; or • the loan having been in a continuous
      state of delinquency for at least 24 consecutive monthly payment due dates,
      or at least 48 consecutive payment due dates in the case of a biweekly mortgage
      loan, without a full cure during that period. Published May 13, 2026 422 If
      a special servicing option mortgage loan is in an MBS pool... Then the mortgage
      loan may be reclassiﬁed... issued prior to June 1, 2007 after the mortgage loan
      has been in a continuous state of delinquency for at least 24 consecutive monthly
      payment due dates, or at least 48 consecutive payment due dates in the case
      of a biweekly mortgage loan, without a full cure during that period. The mortgage
      loan may already appear on Fannie Mae’s list of delinquent mortgage loans due
      for reclassiﬁcation. If not, the servicer must contact its Fannie Mae Servicing
      Representative (see F-4-02, List of Contacts) to request that the mortgage loan
      be added to the reclassiﬁcations scheduled for the month in which the plan is
      conﬁrmed. If the opportunity to do so in the current month has expired, the
      servicer may request that the mortgage loan be added to the reclassiﬁcations
      for the following month. Recent Related Announcements The table below provides
      references to recently issued Announcements that are related to this topic.
      Announcements Issue Date Announcement SVC-2022-05 July 13, 2022 Announcement
      SVC-2021-01 January 20, 2021 Section E-2.2, Managing Bankruptcies by Chapter'
  judgment: false
