How does a lender self-report loans to Fannie Mae?
All self-reporting takes place in Loan Quality Connect™. This includes creating and submitting the self-report, uploading all supporting documentation, and tracking a loan's status as we make a decision as to how to proceed. To facilitate the self-reporting process for COVID-19 loans, we added “COVID forbearance” to the selfreport reason menu in Loan Quality Connect. As a reminder, the lender must notify us within 30 days of identifying loans not eligible for delivery.
Refer to D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit, for all of our self-reporting requirements.
A Job Aid on how to self-report is available to assist lenders with this process.
For more information, refer to the published Lender Letter LL-2020-06, Selling Loans in Forbearance Due to COVID-19.