Hi HBKiwi,
In reference to your post..........FannieMae is chartered by Congress as a private shareholder-owned company..............they are currently run by the Federal Housing Finance Agency...........they are not governed by HUD..........HUD governs the loans insured by the government such as FHA and VA loans.
If you have FannieMae as an investor, their guidelines have already been sent to Chase to follow............they are working with the Streamlined Modification program which is the only option available for modification on FannieMae Backed loans at this time...................
here is the link for that program.........
Media: News Releases > Streamlined Modification Program (SMP) Now Available to Borrowers