In addition to complying with the core performance expectations, critical functions, and metrics presented in this Property Preservation Guide, Fannie Mae expects the following from all servicers:
- Provide high quality goods, services, procedures and processes.
- Perform services in a fiscally responsible manner.
- Deliver timely and accurate goods and services.
- Provide the highest possible standards of business ethics and professional courtesy.
- Provide professional customer service.
- Strive for continuous improvement.
- Comply with all applicable laws and codes.
Fannie Mae requires any specialty services (i.e., extermination, roof replacement, demolition, etc.) to have bids obtained and services performed by qualified/licensed/certified contractors as required by local/state requirements.
Fannie Mae reserves the right to pursue remedies per the Fannie Mae Servicing Guide when the servicer has not met the required timeframes or the work is deficient. Any property may be subject to audit. The servicer and/or the servicer's vendor must provide any documents and/or additional information as requested by Fannie Mae within seven (7) calendar days of such request.
For additional information please see: Property Preservation Matrix and Reference Guide, Section 1, Introduction to Fannie Mae Property Preservation