Evictions and The CARES Act

If you own your home free and clear and do not have a mortgage on the property, then stop reading - all you need is this affidavit (please submit to Alyssa Hanzl at alyssa@flagshipnc.com at your earliest convenience), but if you write a check to a mortgage company each month, then you need to take a few more steps. There are two ways to find out if your mortgage is federally backed:

First, Call Your Servicer

Who is my mortgage servicer? Your mortgage servicer is the company that you send your mortgage payments to each month. The servicer has an obligation to provide you, to the best of its knowledge, the name, address, and telephone number of who owns your loan.

Have your account number or recent mortgage statement handy.

It may take a while to get a loan servicer on the phone. Loan servicers are experiencing a high call volume and may also be impacted by the pandemic so another options is:

Second, Look up Your Loan Online

Nearly half of the nation’s mortgages are owned or backed by Fannie Mae or Freddie Mac. To look up online whether your mortgage is owned or backed by Fannie, click the link below:

These sites aren't guaranteed, but it's a great starting point, and if your loan populates here, then it's safe to say that it's backed by the government.

Here's a list of other sites you could check:

List of federal agencies and entities

I Have A Loan But It's Not Federally Backed

For Properties with a mortgage that is NOT “federally backed”: a signed letter on letterhead (not an email) from the lender/servicer of the Loan that includes crucial information about the loan (see, e.g. the sample verbiage below). Please scan a copy of this letter and send it to Alyssa Hanzl at alyssa@flagshipnc.com or drop it off at one of our offices at your earliest convenience. 

Sample Single-Family Lender Letter:Our Company is the [lender]/[servicer] of the loan(s) issued to or for the benefit of the Owner: [Owner Legal Name(s)] of the property located at: [Property address] . As such we are familiar with the nature, backing and issuance information for all such loan(s). We hereby confirm that there are no loan(s) in place for this Property that meet the definition of the term “Federally Backed Mortgage” as defined by Sec. 4024(a)(4) of the CARES Act.

My Loan is Federally Backed... Now What?

Please email Alyssa Hanzl at alyssa@flagshipnc.com and let me know your loan is federally backed. In the case of eviction, the CARES Act also requires that Covered Properties must provide a 30 Day Notice to Vacate to every tenant who is behind on their rent before you can submit a case to the Court for eviction due to the non-payment. The expiration of the “eviction moratorium” on July 25th did NOT remove the obligation to send these 30 Day NTV notices, however – we are still required to collect these Notices from you as part of our case review process unless/until we have a change in the law or a binding clarification of this provision. Flagship Property Management will send the 30 Day NTV on the property owner's behalf, but our team still needs to be aware of the loan status to proceed.