Fannie Mae Form 198 Charge-Off Questionnaire

What Is Fannie Mae Form 198?

This is a legal form that was released by the Federal National Mortgage Association (Fannie Mae) on July 1, 2020 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Fannie Mae Form 198 Charge-Off Questionnaire?
A: The Fannie Mae Form 198 is a questionnaire used to gather information about charged-off loans.

Q: Who uses the Fannie Mae Form 198 Charge-Off Questionnaire?
A: Lenders and servicers who have charged-off loans that were previously sold to Fannie Mae use this form.

Q: What is a charged-off loan?
A: A charged-off loan is a loan that the lender has determined is unlikely to be collected and has thus been written off as a loss.

Q: Why is the Fannie Mae Form 198 Charge-Off Questionnaire important?
A: This form helps Fannie Mae collect data on charged-off loans to assist in their risk management and decision-making processes.

Q: What information does the Fannie Mae Form 198 Charge-Off Questionnaire collect?
A: The form gathers details about the loan, borrower, collections efforts, and the ultimate disposition of the loan.

Q: Is the Fannie Mae Form 198 Charge-Off Questionnaire mandatory?
A: Yes, lenders and servicers who have charged-off loans sold to Fannie Mae are required to complete this form.