Servicing Guide

Published June 10, 2020

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

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What are the initial securing expectations for property preservation services?

  • All lock changes include the removal and replacement of the lock which includes the deadbolt, should there be one present.

- If the servicer utilizes a lockbox, Fannie Mae will reimburse the servicer within the Padlock/Hasp and Padlock Allowable expense line without prior approval. Lockbox should be placed on the secondary door so as to not interfere with any realtor lockbox.

- Place any previous locksets and deadbolts in a kitchen drawer. Do not discard.

  • When the property is a condo and cannot be rekeyed or have the lock changes, the servicer must contact the condo association and obtain a copy of the key for access.
  • Garage doors must be secured as a part of the initial secure, existing locks to remain when possible, or by adding a padlock.
  • Outbuildings must be secured with existing locks when possible or by adding a padlock.
  • Slider locks and window locks must be repaired/replaced when existing locks are inoperable or are not present on the main level and where accessible.

For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial Securing and Initial Services.

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