; or (bb) other modification options available to the servicer under the terms of their loan and existing laws and policies; and (II) if the borrower qualifies for such a modification, modify the borrower’s loan to provide a loan with such terms as to provide an affordable payment, with no penalties, additional interest beyond the amounts scheduled to be calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower entered into the forbearance, and with no modification fees charged to the borrower. (2) Notification (A) In general Each servicer of a Federally backed mortgage loan shall notify the borrower of their right to request forbearance under this section throughout the period of the COVID–19 emergency— (i) on, or accompanying, each periodic statement provided to the borrower; and (ii) in any oral or written communication by the servicer with or to the borrower. (B) Manner of notification (i) Written notification Any written notification required under subparagraph (A)— (I) shall be provided— (aa) in English and Spanish at a minimum; and (bb) at least as clearly and conspicuously as the most clear and conspicuous disclosure on the document; (II) shall include the notification of the availability of language assistance and housing counseling