Fannie Mae has released  Lender Letter 01-05 which clarifies and underscores certain key aspects of its natural disaster policy and provides guidance for mortgage sellers.

Some of the issues addressed in the Lender Letter include;

• Special Relief Measures, including forbearance.
• Late Charges
• Reporting Delinquencies to credit repositories
• Foreclosure and Collection activities
• Delinquent Advances
• Hazard and Flood Insurance
• Selling requirements including the when determining if the mortgage can be sold or delivered to Fannie Mae:

For the full document please click on the following link

Fannie Mae Lender Letter (LL) 01-05 Hurricane Katrina