F-2-02, Incentive Fees for Workout Options (10/11/2023)

Introduction

This exhibit contains incentive fees for workout options.

Incentive Fees for Workout Options

Incentive Fees for Workout Options

The following table lists the incentive fees for certain workout options that will be paid on mortgage loans where Fannie Mae bears the risk of loss.

Note: Servicer incentive fees for retention workout options will be cumulatively capped at a total of $1,000 per mortgage loan, regardless of whether the initial retention workout option and any subsequent retention workout option were a result of the same hardship. Liquidation workout options are not subject to the cumulative incentive fee cap.

Workout Option	Incentive Fee	Additional Information
Repayment Plan	$500	The following conditions must be satisfied: The mortgage loan must be 60 days or more delinquent when first reported with a delinquency status code 12 – Repayment Plan. The mortgage loan must be brought current upon the successful completion of the repayment plan. The mortgage loan must not be brought current in the same month as the delinquency status code 12 – Repayment Plan is reported. The mortgage loan must not be paid in full or repurchased after the delinquency status code 12 – Repayment Plan is reported and before the mortgage loan becomes current. If a repayment plan incentive fee has been paid for the mortgage loan previously, a 12-month period must have elapsed from the date the mortgage loan became current.
Payment Deferral, Disaster Payment Deferral	$500	The servicer must complete the payment deferral or disaster payment deferral (i.e., submit the case via Fannie Mae’s servicing solutions system).
Fannie Mae Flex Modification	$1,000	The servicer must close the Fannie Mae Flex Modification within two months of the last day of the month in which the final Trial Period Plan payment is due.
Fannie Mae Short Sale	Number of Days the Mortgage Loan is Delinquent at the Time the Case is Closed in Fannie Mae’s servicing solutions system	Incentive Fee Amount	None
	Less than or equal to 210 days delinquent	$2,500
	211 days delinquent up to and including 300 days delinquent	$1,500
	Greater than 300 days delinquent	$750
Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure)	Number of Days the Mortgage Loan is Delinquent at the Time the Case is Closed in Fannie Mae’s servicing solutions system	Incentive Fee Amount	None
	Less than or equal to 210 days delinquent	$2,500
	211 days delinquent up to and including 300 days delinquent	$1,500
	Greater than 300 days delinquent	$750