E-2.1-08, Monitoring Borrower Payments and Critical Dates (11/12/2014)

Keep accurate records of the payments it receives from the borrower before, during, and after the bankruptcy process.

Ensure that both pre-petition and post-petition payments are made on time and are properly accounted for in accordance with

• Fannie Mae’s standard servicing requirements,

• the borrower’s contractual obligations, and

• the rules of the bankruptcy court.

Keep the law firm informed about the borrower’s payment record and send a new referral if the mortgagor becomes 60 days delinquent with their plan payments. The referral must be sent no later than two weeks from the 60th day of delinquency.

Maintain a legal event record that includes dates and indicates the status of the case at various stages in the bankruptcy process.