CRT-Eligible Profile Summary

Workout Hierarchy Programs to help both servicers and borrowers manage delinquent mortgage loans and avoid foreclosure. Forbearance Agreement between the mortgage servicer and the homeowner to pause or reduce monthly mortgage payments for a certain period, allowing homeowners to resolve their short-term hardship. Reinstatement Retention Options Repayment Plan Payment Deferral Homeowner is able to resume making their regular monthly payments following a delinquency (or forbearance plan) and can repay the missed amounts all at once. Homeowners repay the missed amounts over a fixed period. They make their repayments along with their regular mortgage payment on a monthly basis. Designed to assist borrowers who have resolved a temporary hardship by deferring missed payments to the end of the loan term or earlier if the home is sold, property is transferred, or the loan is refinanced or otherwise paid off.* Liquidation Options Fannie Mae Flex Modification Credit Events Designed to assist borrowers who are experiencing a permanent or long-term hardship, the Flex Modification offers payment relief through a combination of potential interest rate reduction, extension of the loan term, and possible principal forbearance. Only interest rate reduction/principal forbearance resulting from a Flex Modification may entail modification losses. When retention is not a viable option, liquidation options include short sale, or Mortgage Release™ (Deed-in-Lieu of Foreclosure); or the loan is liquidated after the servicer refers the mortgage loan to foreclosure in accordance with applicable law. *CAS: Payment deferrals are currently not treated as modification events in the structure. *CIRT: Beginning with CIRT 2023-1, Payment Deferral is a covered modification expense in the CIRT structure. Losses associated with payment deferrals are a covered modification loss in the CIRT structure. © 2024 Fannie Mae 58

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