Servicing Guide

Published September 9, 2020

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What are the Fannie Mae investor reporting action codes associated with loan liquidations?

A loan liquidation is classified as an event that removes the mortgage loan from the Fannie Mae investor reporting system without full payment.  Actions included in this category are Foreclosure Sales, a Mortgage Release, Third Party Sale, Short Sale, etc. The Action Codes and related descriptions are provided in the following table. 

Action Code

The servicer must report this Action Code for…

70

Charge-off/Liquidated Held for Sale for Uninsured Properties: 

  • including those in redemption, 
  • acquired through a Mortgage Release, or 
  • for a VA No-Bid or No Upset case.

 

Note:  The servicer must transmit a Transaction Type 96 LAR to Fannie Mae if the servicer repurchases an acquired property after it submits an REOgram™ to Fannie Mae.

Note: The servicer must not report an action code that reflects “repurchase” or “payoff” since the liquidation actually relates to the disposition of the property that was “held for sale.” The servicer also must report the repurchase proceeds as “special remittance

 

 

71

 Liquidated Third-Party Sale / Condemnation / Short Sale, including when:

  • a third-party purchaser has acquired the property,
  • a condemnation of the property has occurred,
  • a short sale has been completed, or
  • Fannie Mae authorized the charge-off of the second-lien mortgage debt.

72

Charge-off/Liquidated – Foreclosure Sale Held for Insured Properties:

  • including those in redemption, or
  • for a property acquired through a Mortgage Release pending conveyance to FHA/VA/MI.

For more information see Investor Reporting Manual Chapter 2-04, Reporting Specific Payment Transactions to Fannie Mae (02/14/2018)

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