Servicing Guide

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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When is clear boarding required for property preservation?

Clear boarding is required in cases where plywood would have previously been utilized on windows. Exceptions where plywood may be acceptable:

  • Severely fire damaged or pre-demolition properties. Contact Fannie Mae on a case by case basis for exceptions.
  • Non-window openings such as crawl spaces, pet doors, etc. also.

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

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How should the servicer notify Fannie Mae of a property preservation matrix code violation for a property in REO?

If the servicer receives a code violation or otherwise determines a property is in disrepair and the property is in Fannie Mae's REO inventory, The...

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What if the servicer has a question that they cannot find an answer to in the Property Preservation Matrix and Reference Guide?

Throughout this Property Preservation Guide, it is not possible to provide guidance or expectations on every possible situation a servicer may encounter....

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What are the Property Preservation Matrix requirements for property maintenance?

The servicer is required to maintain the interior and the exterior of the property year round. Fannie Mae provides the servicer with allowable thresholds...

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What are Fannie Mae's vendor requirements for property preservation?

In addition to complying with the core performance expectations, critical functions, and metrics presented in this Property Preservation Guide, Fannie Mae...

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How should bids for property preservation be submitted to Fannie Mae?

HomeTracker® is the required method of submission for all over allowable bids. This system is specifically designed to streamline work processes...

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How should the servicer submit property preservation bids if mortgage loan information is not available in HomeTracker?

In the event the loan is not available in HomeTracker, the servicer must submit bids with the required information found in Property Preservation Request...

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Where can the servicer find instructions related to submitting a property preservation bid in HomeTracker?

See the Servicer User Guide in the Learning Center of HomeTracker for specific directions on how to submit a bid via HomeTracker. The servicer must...

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Are there any specialty service requirements for property preservation services?

Fannie Mae requires any specialty services (i.e., extermination, roof replacement, demolition, etc.) to have bids obtained and services performed by...

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How much time does the servicer have to submit subsequent property preservation bids or additional information?

The servicer has seven (7) calendar days from the Fannie Mae bid response date to submit any requested subsequent bids and/or additional information for...

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What are Fannie Mae's general photo requirements when completing property preservation work?

Fannie Mae requires the servicer to make available all date stamped, before, during, and after photos and/or videos of all work completed. Depending on...

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What are Fannie Mae's photo requirements when performing initial and ongoing exterior property preservation services?

In addition to the servicer’s own photo requirements and Fannie Mae’s general photo requirements, the following are required when performing...

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What form is required to complete a property preservation property inspection?

The servicer must use a Property Inspection Report (Form 30) or its own form that provides equivalent information to document the property inspection, and...

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When should the servicer increase it's frequency of property preservation inspections?

More frequent property inspections must be completed when necessary, such as when required by local ordinance, in high vandal areas, based on property...

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What are the requirements for property preservation property registration?

Upon delinquency, the servicer must determine any requirements imposed by municipal, county, or state authorities for property registration. The servicer...

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When should the servicer complete the initial property preservation securing after a property is reported as vacant?

Once an inspection or other notification determines a property vacant for the first time, the servicer is expected to complete initial securing and...

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How should the servicer secure a multiple-unit property for property preservation?

When a property securing a Fannie Mae loan includes multiple units, each unit used as collateral for the loan must also be secured as it becomes vacant....

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What action should the servicer take when completing property preservation on a vacant property and the servicer is unsure of property lines?

The servicer must research if unsure of the property line or location of outbuildings included in the property. For additional information please see:...

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Should a vacant notice be posted to a property for property preservation purposes?

An industry best practice is to post a notice at the primary entrance advising any potential occupant that the servicer has information the property is no...

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What services must be included in the initial property preservation services?

The following services must be completed within fourteen (14) calendar days from the FTV. Refer to the expectations and details within each service for...

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What is property preservation initial securing?

Fannie Mae expects properties to remain secure while the property is delinquent and vacant. The servicer must ensure all access points are secure upon...

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How many locks is the servicer required to rekey or change on the main dwelling for property preservation?

The servicer is required to rekey or change locks on an exterior rear or a secondary door for access on the main dwelling of vacant properties. Only one...

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When is the servicer required to rekey the lock to a main entrance for property preservation?

The main entrance should be rekeyed or have the lock changed when it is the only option for gaining access. It is the servicer's discretion whether or...

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Should the servicer install a lockbox on during property preservation services?

It is the servicer's discretion whether or not to install a lockbox. Should a lockbox be utilized at the property, only one lockbox may be installed...

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What property preservation action should the servicer take if a property is vandalized or becomes unsecure?

In the event the main dwelling becomes unsecure or the servicer's lock(s) are changed, the servicer must proceed with re-securing to gain access...

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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...

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How does Fannie Mae describe a detached structure for property preservation?

A detached structure is described as a building that is not directly attached to the main building; something that is not affixed to the main property....

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What are the property preservation expectations for detached structures?

All detached structures must be secured with existing locks when possible or by adding a padlock.Missing or inoperable doors must be replaced using the...

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What are the property preservation expectations for a detached structure that is collapsing, fire damaged, or too unstable to repair?

Utilize the Boarding Allowable to plywood board any unsecured openings including window openings. Submit bids to demolish the detached structure. ...

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What property preservation action must be completed with the garage has an automatic door opener?

Unplug the door opener from the power source. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial...

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What are the contractor posting requirements during property preservation?

The servicer must remove any previous contractor postings containing incorrect information and post the property with the servicer's and/or the field...

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When should plywood boarding be used for property preservation?

The servicer must ensure properties are boarded with plywood to prevent vandalism when exterior non-window openings are not otherwise securable. Boarding...

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What is clear boarding during property preservation services?

Clear boarding is a polycarbonate board-up system which offers a very unique alternative to using plywood if a property requires boarding. Clear boarding...

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What is reglazing during property preservation services?

Reglazing is replacing the glass within the window frame. A broken pane, deterioration over time or broken glass can lead to a window's need to be...

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How long does the servicer have to perform clear boarding or reglazing for property preservation?

Fannie Mae allows the servicer fourteen (14) calendar days to secure the property from the FTV. Within the fourteen (14) day timeframe, the window(s)...

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Does Fannie Mae have a preference between clear boarding, reglazing and window repair for property preservation?

Where feasible, Fannie Mae prefers to re-glaze/repair windows. The servicer should determine the appropriate strategy. Cost, number of windows, likelihood...

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What action should the servicer take if clear boarding material is not immediately available and reglazing/repairing the window is not an option for property preservation?

Install Clear Boarding within three (3) calendar days from discovery of the unsecured window opening. For additional information please see: Property...

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What property preservation action must the servicer take if any exterior doors allowing access to the interior of the property are missing?

Replace the exterior door with exterior door rated materials and install a door jamb and door hinge protection product. If unable to complete within the...

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What property preservation action must the servicer take if there is debris left from deboarding a previously plywood boarded window opening?

 Refer to Exterior Debris Removal within the initial services: property exterior section for further details.  For additional information please...

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What action should be taken if a property had broken window(s) and the servicer chose to reglaze/repair and later any window breaks during property preservation?

Clear board any broken windows. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial Securing...

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What property preservation action must be taken if a property is found severely vandalized upon initial secure?

Clear board all windows on the main level of the property only or where access can be gained on other levels. The servicer must address any other broken/...

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What action must be taken if a property has a sliding glass door and the glass needs to be reglazed during property preservation?

Utilize the Repair / Replace Window Allowable to replace the glass in the sliding glass door. For additional information please see: Property Preservation...

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What action must be taken if a property has a sliding glass door and the glass cannot be reglazed during property preservation?

Utilize the Exterior Door Allowable to repair or replace the door. For additional information please see: Property Preservation Matrix and Reference Guide,...

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When should a security door be used during property preservation?

A Security Door Allowable must only be utilized when the property is so severely damaged that a new exterior door and/or door frame does not make...

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When should the exterior door and exterior door jamb allowable be used during property preservation?

The Exterior Door Allowable must be used to repair/replace missing or inoperable exterior doors including installation of a door jamb and hinge protection...

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How many days does the servicer have before they have to repair/replace the exterior door and/or door jamb after the initial secure for property preservation?

If it is discovered that the exterior door and/or door jambs need to be repaired and/or replaced any time after the initial secure timeframe, the...

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What are Fannie Mae's expectations for using the exterior door and exterior door jamb allowable during property preservation?

When providing exterior door replacement, ensure door fits properly and is adjusted and seals to prevent water from leaking in. There should be no gaps...

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Are there any Fannie Mae approved products to use for door jamb and door hinge protection during property preservation?

The Door Armor MAX Combo (door jamb and door hinge protection) and the Door Armor MINI Combo (door jamb protection) are the two approved products made by...

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What action must be taken if the entire door is missing or irreparable during property preservation?

Replace the exterior door with exterior door rated materials and install a door jamb and door hinge protection product. If unable to complete within the...

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What action must be taken if the entire door is missing or irreparable on a detached structure during property preservation?

Replace the exterior door with exterior door rated materials and install a door jamb and door hinge protection product. For additional information please...

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What action must be taken if repairs are made to the door jamb of a door allowing access to the interior of the property or to a detached structure during property preservation?

Install a door jamb protection product. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial...

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What action must be taken if an exterior door is replaced and the door jamb and door hinge protection product is installed during property preservation?

Install a door jamb protection product on all remaining exterior doors which allow access to the interior of the property. This must be done regardless of...

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What action must be taken if the property has a sliding glass door and the glass needs to be reglazed during property preservation?

Utilize the Repair / Replace Window Allowable to replace the glass in the sliding glass door. For additional information please see: Property Preservation...

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What action must be taken if the property has a sliding glass door and glass cannot be reglazed during property preservation?

Utilize the Exterior Door Allowable to repair or replace the door. For additional information please see: Property Preservation Matrix and Reference Guide,...

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When should the repair garage door allowable be used during property preservation?

This Repair Garage Door Allowable must be utilized to secure overhead garage doors when unsecured. This includes replacing missing panels with like panels,...

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What action must be taken if the entire overhead garage door is missing where a pervious door existed during property preservation?

Submit a bid to replace. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial Securing and Initial...

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What action must be taken during property preservation if the overhead garage door is unsecured and the garage structure is in good condition?

Utilize the Repair Garage Door Allowable to secure. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5,...

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What action must be taken during property preservation if the overhead garage door cannot be repaired within the allowable?

Submit bids to repair or replace the door, whichever is most cost effective. For additional information please see: Property Preservation Matrix and...

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What property preservation action must be taken if the garage is collapsing, fire damaged, or too unstable to repair?

Utilize the Boarding Allowable to plywood board any unsecured openings including window openings. Submit bids to demolish the detached structure. ...

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What are the property preservation requirements for fences/gates and locks for securing a pool, hot tub or spa?

If the property has a pool, hot tub and/or spa, the servicer must ensure the pool, hot tub and/or spa are covered and the fence, lanai and/or gate are...

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What property preservation action must be taken to secure a pool, hot tub or spa?

Regardless of fence/lanai/gate being present, pools must be covered using the Pool Cover Allowable. Pools must be covered in the following manner: Cover...

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Can the entire property preservation pool cover allowable for covering an above ground pool or hot tub/ spa?

When covering an above ground pool or hot tub/spa, the cost of the service is significantly lower than covering a below ground pool, therefore the entire...

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Does debris have to be removed from a pool/hot tub/spa once it is covered during property preservation?

Once any pool/hot tub/spa is covered, the servicer must continue to remove water, leaves and debris from the cover. Refer to Yard Services within the...

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What action should the servicer take if the pool cover allowable is not enough to cover a pool?

If the servicer is unable to cover a pool within the allowable, the servicer must submit an over allowable bid via HomeTracker. Refer to Section 2:...

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When should the fence repair allowable be used for property preservation?

The Fence Repair Allowable must be used to repair and/or replace unsecured fences/gates/lanais. The servicer must submit a bid to repair and/or replace...

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What are the material / paint requirements when using the fence repair allowable during property preservation?

When repairing/replacing fences/gates/lanai, ensure the materials used match as closely as possible to current materials.Painting or staining of material...

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What property preservation action should be taken if the entire fence is missing or has fallen over and CANNOT be repaired/replaced within the allowable, and a pool/hot tub/spa is present?

Remove any remaining debris and submit a bid to repair/replace the fence/gate/lanai. Cover pool/hot tub/spa as required. Refer to the Pool Covers...

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What property preservation action must be taken if a missing or fallen fence cannot be repaired / replaced within the allowable, and a pool/hot tub/ spa is not present?

If local ordinance does NOT require a fence, remove any remaining debris.  No further action is required.   If local ordinance DOES requires a...

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When are exterior initial services expected to be performed during property preservation services?

The servicer is expected to perform all of the Initial Exterior Services within fourteen (14) calendar days from the FTV. When a property securing a...

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What is exterior debris removal during property preservation services?

Exterior debris removal includes removal of all debris, trash, and dead vegetation. Fannie Mae expects removal of these items from the entire exterior of...

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What action must be taken for exterior debris removal during property preservation?

Pick up and remove all exterior debris, trash, and dead vegetation. Dead vegetation includes, but is not limited to: fallen leaves/tree limbs, dead shrubs/...

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What is considered exterior debris during property preservation services?

Interior items not intended for exterior use that have been left outside and exposed to the elements are considered debris. Examples include: Furniture...

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Are items located inside outbuildings or garages considered exterior debris during property preservation services?

Items located inside outbuildings or garages are not considered exterior debris. These areas should be secured as part of the initial and ongoing services....

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How can I use the debris removal and move personal property allowable to include all cubic yards during property preservation services?

The Debris Removal and the Move Personal Property Allowables include a combined maximum of 10 cubic yards for the removal of raw garbage, perishable items,...

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What is considered one cubic yard during property preservation services?

A cubic yard is defined as 3' x 3' x 3' or 27 cubic feet and is measured by volume, not weight or content. For additional...

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What action should be taken if there is between 11 and 20 cubic yards of interior and exterior debris during property preservation?

When 11-20 cubic yards of combined interior or exterior debris or the relocation of personal property in the way of the grass cut or in street view, the...

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When should a bid for interior or exterior debris be submitted during property preservation?

When more than 20 cubic yards of combined internal and exterior debris removal and/or moving personal property needs to be performed, the servicer must...

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When can the move personal property allowable be used during property preservation?

Moving exterior personal property is limited to items which obstruct lawn maintenance or are in street view. Personal property must be moved to a secure...

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What personal property should not be moved or removed during property preservation services?

Examples of personal property to not move/remove include, but are not limited to: Bird bathsDog houseGrillsPicnic tablesStacked building materials such as...

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What action must be taken if personal property is found outside and is in the way of the grass cut or is in street view during property preservation?

Move the personal property to a secured location. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5,...

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What action should be taken if extraordinary circumstances arise during property preservation (such as tire farm, dump site, hoarder site, crime scene, etc.)?

Stop debris removal and notify Fannie Mae about the issue by submitting the proper bids via HomeTracker. The servicer must provide details of...

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Is the servicer expected to maintain yards year-round for property preservation?

Fannie Mae expects the servicer to maintain yards year-round and comply with local ordinance/association standards. There is only one Initial Yard Service...

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What are Fannie Mae's property preservation requirements for initial and ongoing grass recuts during property preservation?

Each initial and ongoing (recut) yard service includes but is not limited to: Cut grass and remove clippings from sidewalks, driveways and lawns (front,...

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What is Fannie Mae's defined grass cut schedule as described in the Property Preservation Matrix?

Fannie Mae does not provide a defined grass cut schedule. Yard services are expected to be performed year round, as needed, regardless of season. For...

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What are the property preservation cut grass requirements for lots up to one acre (up to 43,560 square feet)?

Initial and ongoing (recut) yard services must be completed within the allowable based on the area to be cut and where grass is less than 12 inches on the...

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When can the servicer submit property preservation yard cut bids after the fact?

When the yard services cannot be completed within the allowable and grass is less than three (3) feet high on the majority of the lot, the servicer may...

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When is the servicer required to submit yard service bids in HomeTracker?

When the yard services cannot be completed within the allowable and grass is over three (3) feet high on the majority of the lot, the servicer must submit...

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What are the property preservation cut grass requirements for lots over one acre (more than 43,560 square feet)?

The servicer is to cut the perimeter on useable land on over one acre lots regardless of the perimeter square footage (as long as the perimeter square...

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When should the servicer submit a property preservation bid for perimeter over allowable grass cuts?

When the perimeter cut for yard services cannot be completed within the allowable, the servicer must submit bids via HomeTracker. Typical over allowable...

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What action must the servicer take if conditions prevent yard service from being performed (e.g., weather, ground is too moist/flooded, little to no growth, etc.) during property preservation?

Document the situation. Servicer must return within 10 to 20 days to complete necessary services if conditions permit.  For additional...

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What action must the servicer take if extraordinary circumstances arise and yard service cannot be performed during property preservation?

Stop yard services and notify Fannie Mae about the issue by submitting the proper bids via HomeTracker. For additional information please see: Property...

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What action must the servicer take if excessive leaves prohibit proper yard services during property preservation?

Follow the debris removal process outlined in Exterior Debris Removal within this section. When deciding to address excessive leaf removal outside the...

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What action must the servicer take if animals are found at the property and/or if the animal is preventing any services from being performed during property preservation?

Contact local animal control immediately to coordinate the handling of animals in order to complete services. For additional information please see:...

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When is the servicer required to perform maintenance on the exterior of a property during property preservation?

Fannie Mae expects the servicer to maintain trees/shrubs/vines year-round as well as remain in compliance with local ordinance/association standards. For...

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What does maintenance of the entire property (during initial securing and initial services) include during property preservation?

Maintenance of the entire property includes the trimming of the shrubs/trees/vines, fence lines and saplings near the foundation, as well as the removal...

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What are Fannie Mae's requirements for the trimming of trees, shrubs and vines during property preservation?

Trimming must be completed when affecting the condition or access to the main dwelling, detached structures, fencing, lanai, and/or mechanical equipment....

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What information is required when submitting a property preservation bid for trim trees, shrubs or vines?

When the cost of trim trees/shrubs/vines services cannot be completed for the allowable or the allowable has been exhausted, the servicer must submit bids...

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What action must be taken if there is excessive overgrowth that prevents property preservation activities?

Stop trimming and notify Fannie Mae about the issue by submitting the proper bids via HomeTracker. For additional information please see: Property...

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When should the servicer remove a tree during property preservation?

On occasion a tree must be removed for safety reasons. When this occurs, the servicer must submit two (2) bids simultaneously and must only include...

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When should the servicer remove snow during property preservation?

When ice is present or after a minimum of three (3) inches of snowfall, the servicer must utilize the Snow Removal Allowable. When the cost of service...

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Will Fannie Mae always reimburse the servicer for property preservation snow removal that is outside of the allowable threshold?

When the servicer decides to address snow removal outside of the allowable threshold and prior to Fannie Mae approval, the servicer should take into...

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What action must be taken for snow removal during property preservation?

Remove snow/ice from all entries and paths to the property to include lockbox locations. Remove snow/ice from steps, driveway, and walkways, including...

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What information is required when submitting a snow over allowable bid during property preservation?

The servicer must refer to Property Preservation Matrix Section 2: Technology and Photos for bid submission details and include the following: Location to...

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What action must be taken if excessive snow is present on the roof and snow from the roof is causing damage during property preservation?

Provide bid via HomeTracker to remove. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial...

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What action must be taken if clearing of snow cannot be completed due to extreme situations during property preservation?

Document the situation and complete snow removal as soon as possible. For additional information please see: Property Preservation Matrix and Reference...

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What action must be taken if excessive snow clearing or plowing of a private road is necessary during property preservation?

Notify Fannie Mae about the issue by submitting the proper bids via HomeTracker. For additional information please see: Property Preservation Matrix and...

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When should the property preservation address posting allowable be used?

The servicer is required to confirm the correct address at the property prior to commencing any preservation work. After confirming the correct address,...

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When should I use the roof patch/repair allowable during property preservation services?

When a roof leak is discovered, appropriate measures must be taken to preserve the property by stopping the leak. The Roof Patch / Repair Allowable must...

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When should the servicer tarp a property under the Roof Patch/Repair allowable?

The Roof Patch / Repair Allowable must be used to make minor repairs to a roof if found to be damaged. When the cost to repair exceeds the allowable(s),...

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When should the servicer submit a bid to patch/repair the roof during property preservation?

When the cost to patch/repair an area of the roof exceeds the allowable, the servicer must submit a bid to repair. Flat roofs only require a bid to repair...

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What is included in the roof patch/repair allowable during property preservation services?

The Roof Patch / Repair Allowable includes the repair of all portions of the roof including, but not limited to: chimneys, skylights, roof vents, decking,...

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What must be included in a roof patch/repair over allowable bid submission during property preservation?

The servicer must refer to Section 2: Technology and Photos within the Property Preservation Guide for bid submission guidelines and include the following:...

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What action must be taken if the entire roof must be replaced during property preservation?

Stop all work related to the roof and tarp within the Roof Patch/Repair Allowable. Submit two (2) bids to repair the roof via HomeTracker. Cost estimators...

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What action must be taken if the chimney, roof vents/boots, flashing or skylights need to be resealed or replaced during property preservation?

The Roof Patch / Repair Allowable can be utilized to perform the services. For additional information please see: Property Preservation Matrix and...

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When should the chimney cap allowable be used during property preservation?

When a chimney is present and missing a cap/spark arrestor, a maximum of one (1) cap/spark arrestor per chimney and a maximum of two (2) per property may...

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When should the clean gutter allowable be used during property preservation?

The servicer must use the Clean Gutter Allowable to clean existing gutters when necessary which includes removal of the associated debris from the...

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When should the repair gutter allowable be used during property preservation?

The servicer must use the Repair Gutter Allowable to repair, replace or reattach (secure, refasten) any existing/missing gutter sections and downspouts,...

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What actions must be taken when repairing gutters during property preservation?

When completing gutter repair, ensure the materials and color used match as closely as possible to current materials.Proper installation for all gutter...

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What property preservation action must be taken if there are no gutters on a property and there is no evidence that gutters were ever installed?

Do not install gutters. There is no action required. For additional information please see: ...

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What action must be taken if there is an existing (gutter) splash guard during property preservation?

Do not remove. Ensure splash guard is placed under gutter downspout to lessen erosion. For additional information please see: Property Preservation Matrix...

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What action must be taken if there are gutter section(s) missing and downspout(s) are hanging during property preservation?

Replace the missing section(s) and reattach the downspout(s) within the allowable. For additional information please see: Property Preservation Matrix and...

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When should the exterior handrails allowable be used during property preservation?

The Exterior Handrails Allowable may only be used to repair damaged handrails/railings or replace missing handrails/railings where they previously existed...

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What actions must be taken for exterior handrail preservation during property preservation?

Replace any missing or broken handrail that cannot be repaired. The servicer must use appropriate handrail materials and ensure the materials and color...

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What should the servicer do if an exterior handrail is missing and it is obvious one was present during property preservation?

Replace the handrail using appropriate handrail materials. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if a handrail is repaired and cannot be repaired during property preservation?

Replace the handrail using appropriate handrail materials. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if there is no handrail present and local code requires a handrail during property preservation?

Install using appropriate handrail materials within the allowable. If unable to complete within the allowable, submit a bid with a copy of the local...

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What action must be taken if there are no exterior handrails present and local ordinance does not require handrails during property preservation?

There is no action required unless the servicer determines a safety hazard exists without the handrail or where three (3) or more steps are present. Use...

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What action must be taken if a property has existing exterior handrails that are loose during property preservation?

Re-secure existing handrails. Utilize the Exterior Handrails Allowable if further repairs are necessary. For additional information please see: Property...

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How should an exterior handrail be installed during property preservation?

The handrail must be installed correctly and meet all code requirements. For additional information please see: Property Preservation Matrix and Reference...

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What action must be taken if an existing exterior handrail is present and does not meet local ordinance/association standards during property preservation?

Utilize the Exterior Handrails Allowable to bring the handrail into compliance. For additional information please see: Property Preservation Matrix and...

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When should the servicer use the exterior dryer vent cover allowable during property preservation?

The Exterior Dryer Vent Cover Allowable is to be used only when a cover is not present. For additional information please see: Property Preservation...

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When should the servicer use the roof cleaning allowable during property preservation?

The servicer is required to ensure the roof is clear of limbs, branches, and excessive accumulation of leaves and moss. The Roof Cleaning Allowable is...

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When should a bid for over allowable roof cleaning be submitted during property preservation?

If the servicer is unable to clean the roof within the allowable threshold, the servicer must submit an over allowable bid via HomeTracker. Bids in these...

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Can the roof cleaning allowable be used to remove moss from the roof during property preservation?

When removing moss present on the roof, the servicer must use a moss/mold/mildew/algae stain remover. Pressure washing in these situations is not...

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What is included in the property preservation fascia allowable?

The Fascia Allowable includes repairing and/or replacing up to 20 linear feet (LF) of missing or damaged fascia or more if the price per linear foot is...

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What is included in the property preservation soffit allowable?

The Soffit Allowable includes repairing and/or replacing up to 20 linear feet (LF) of missing or damaged soffits or more if the price per linear foot is...

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When should the property preservation step repair allowable be used?

The Step Repair Allowable must be used to repair damaged and/or replace missing steps where steps previously existed. The allowable can be used for...

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What action must be taken during property preservation step repair?

Replace any missing or broken steps that cannot be repaired. The servicer must use appropriate step materials and ensure the materials and color used...

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What should the servicer do if the steps are broken and cannot be repaired during property preservation?

Replace using appropriate materials within the allowable. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if no steps on the property are present and local code/ordinance requires steps during property preservation?

Install using appropriate materials within the allowable. If unable to complete within the allowable, submit a bid with a copy of the local ordinance....

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What action must be taken if there are no steps present on a property and local code/ordinance does not require steps during property preservation?

There is no action required unless the servicer determines a safety hazard exists without the repair. Use of the Step Repair Allowable is acceptable in...

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What action must be taken if the steps on a property are loose during property preservation?

Re-secure the steps. Utilize the Step Repair Allowable if further repairs are necessary. For additional information please see: Property Preservation...

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What should the servicer do if the existing steps on a property do not meet local ordinance/association standards during property preservation?

Utilize the Step Repair Allowable to bring into compliance. For additional information please see: Property Preservation Matrix and Reference Guide,...

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When should the graffiti removal allowable be used during property preservation?

The Graffiti Removal Allowable must be used to cover up graffiti markings on the exterior of the property and the interior, when viewable from the street....

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What actions must be taken during property preservation graffiti removal?

All vulgar, obscene, or inappropriate words/comments/artwork found in the interior must be covered if viewable from the street or required by local...

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What action must be taken if the interior walls of a property have crayon/pencil or other markings that are not vulgar, obscene, or inappropriate during property preservation?

No action is required. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial Securing and Initial...

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What action must be taken if the interior walls have height charts, contractor markings, or other non-offensive markings or drawings during property preservation?

No action is required. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5, Initial Securing and Initial...

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What action must be taken if there is graffiti on the window(s) of a property during property preservation?

Use the allowable to clean the window using appropriate products. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if there is exterior graffiti on masonry, concrete, hard plastic, or other semi/non-porous materials during property preservation?

Use the allowable to pressure wash in order to remove the graffiti. For additional information please see: Property Preservation Matrix and Reference...

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What action must be taken if local ordinance/association standards require the servicer to paint plywood boards in Fannie Mae approved plywood instances during property preservation?

Use the allowable to paint the plywood boards to adhere to local ordinance/association standards. For additional information please see: Property...

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When is the servicer expected to perform initial interior services during property preservation?

The servicer is expected to perform all of the Initial Interior Services within fourteen (14) calendar days from the FTV. When a property securing a...

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When should the property preservation interior debris removal/move personal property allowable be used?

Interior debris removal is limited to: raw garbage and perishable items. For additional information please see: Property Preservation Matrix and Reference...

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What are examples of interior debris that are not authorized to be removed during property preservation?

Examples of interior debris that are not authorized to be removed include, but are not limited to: Alcohol Antifreeze Canned goodCleaning...

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What personal property can be moved during property preservation services?

Moving interior personal property is limited to personal property obstructing the servicer from completing initial and/or ongoing services. For additional...

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What action must be taken if the servicer encounters an infestation (e.g., fleas, rodents, etc.) which hinders the ability to perform services during property preservation?

Utilize the Extermination Allowable to address pests such as fleas, rodents, ants, wasps, and hornets using over the counter products and continue with...

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When should the cleaning refrigerator or stand alone freezer allowable be used during property preservation?

The servicer must clean all refrigerators and stand-alone freezers when necessary. This includes the removal of all perishable contents, wiping down and...

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When should the cleaning toilets allowable be used during property preservation?

The servicer must clean the toilet when waste is present. This includes cleaning both the inside and outside of the toilets. For additional information...

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When should the winterization and rewinterization allowable be used during property preservation?

The servicer must winterize the main dwelling and any additional units and ensure water is off and winterization remains intact while the property is...

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What winterization actions must be taken during property preservation?

Winterization includes shutting the water source off at the curb and at the main interior water supply. The servicer must shut off one water source when...

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What are Fannie Mae's requirements when the pressure test fails during property preservation services winterization?

When a pressure test fails, the servicer must still complete a partial winterization which includes, but is not limited to, shutting off/closing all...

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When should the servicer rewinterize a property during property preservation services?

Properties must be re-winterized if a winterization is compromised. For additional information please see: Property Preservation Matrix and Reference...

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When is winterization season during property preservation services?

There is not a winterization season. Winterizations are expected to be performed year round with the exception of Hawaii, Guam, Puerto Rico, and the...

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What action must be taken if the property has shared utilities or has a fire sprinkler system in a state that is known to freeze and found during winterization property preservation services?

Transfer and maintain the utility(ies) that supply the heat in the servicer's name. Set the heat on the thermostat to 55 degrees. When the heat source...

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What action must be taken if the water heater has a dedicated gas valve found during property preservation services winterization?

Ensure the gas valve is turned off and/or capped, if necessary. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What are the additional photo requirements for winterization and rewinterization during property preservation services?

Additional Photo Requirements: Before, during and after photo of clean toilet with correct antifreeze solvent usedPhoto of antifreeze solvent being poured...

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When should the servicer cap wires during property preservation services?

The servicer must cap any exposed, bare wires. Capping wires includes but is not limited to: open electrical outlets, exposed light fixtures. For...

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When should the servicer cap water/sewer lines during property preservation services?

The servicer is to cap water/sewer lines regardless of utility status. Capping water/sewer lines includes but is not limited to: Washing machine line ...

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When should the servicer exterminate during property preservation services?

The Extermination Allowable is be used to eliminate rodents, wasps, hornets, bees, termites, and mosquitos in standing water, as well as to seal the...

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When should the servicer submit an over allowable for extermination during property preservation services?

Any extraordinary extermination over the allowable requires two estimates from qualified/licensed/certified exterminators to be submitted simultaneously...

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What are Fannie Mae's requirements to treat mosquitos in a pool or open water area during property preservation services?

When the property has a pool, Fannie Mae expects the servicer to utilize the Extermination Allowable to use mosquito prevention products to drop into the...

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Does Fannie Mae allow over-the-counter extermination products for extermination during property preservation services?

In most cases for extermination, over-the-counter products can be used (e.g., mouse traps, flea bombs, wasp spray, etc.). Use environmentally-friendly,...

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When should the servicer repair/replace sump pump during property preservation services?

When the property is designed to have a sump pump to keep the basement or crawl space dry, the servicer must: 1. Transfer the electricity into its name. 2....

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What action must be taken if there is no crock for a sump pump during property preservation services?

No action is required. Sump pump is not utilized at the property. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if the sump pump crock is broken or cracked during property preservation services?

Utilize the Sump Pump Allowable to repair or replace the crock. For additional information please see: Property Preservation Matrix and Reference Guide,...

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When should the servicer remove a dead animal during property preservation services?

The Dead Animal Removal Allowable is for the removal of dead vermin/dead animal(s) and must be used for their removal and disposal. In most cases, the...

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When should the servicer use the basement moisture control allowable during property preservation services?

The Basement Moisture Control Allowable is provided to ensure basements stay as dry as possible and reduce or eliminate the potential for foul, musty...

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What are Fannie Mae's expectations for the basement moisture control allowable during property preservation services?

The basement moisture control allowable must only be used in properties with a basement.The servicer must place a moisture control product at initial...

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When should the servicer use the plumbing allowable during property preservation services?

In the event water cannot be shut off due to damaged or inoperable shut off valve(s), the servicer must use the Plumbing Services Allowable in order make...

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What plumbing services should not be completed within the plumbing allowable during property preservation services?

The Plumbing Services Allowable is not to be utilized on the following: Water faucets/hose bibs,Shower heads Repairing/replacing/removing...

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What action must be taken if the plumbing is missing and/or vandalized during property preservation services?

Cap all open lines and file insurance/proof of loss claim. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What action must be taken if the property has suffered freeze damage during property preservation services?

Cap all open lines and file insurance/proof of loss claim. For additional information please see: Property Preservation Matrix and Reference Guide,...

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What property preservation action must be taken if the plumbing is found to be in disrepair or does not hold pressure and damages are not visible?

Ensure water is off at the main and all open water lines are capped using the Cap Water Line Allowable and winterize the property. Refer to...

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Does Fannie Mae have a definition of discoloration during property preservation services?

Discoloration is a potential hazard caused by moisture resulting from a specific source. For additional information please see: Property Preservation...

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When must the servicer use the address discoloration allowable during property preservation services?

Discoloration is a potential hazard caused by moisture resulting from a specific source. The Address Discoloration Allowable must be used to remove or...

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What are Fannie Mae's expectations for the address discoloration allowable during property preservation services?

The servicer must cure the source of the discoloration prior to utilizing the Address Discoloration Allowable.The servicer must adhere to applicable legal...

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What information must the servicer include when submitting an address discoloration over allowable bid to complete property preservation services?

Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance and include the following: Provide...

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What action must be taken if the surface is finished wood and has discoloration on it during property preservation services?

Scrub down the area with an antimicrobial solution only. For additional information please see: Property Preservation Matrix and Reference Guide, Section 5...

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What action must be taken if discoloration removal/cleaning cannot be completed within the allowable during property preservation services?

Submit a bid via HomeTracker. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidelines. For...

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What action must be taken if interior personal items are damaged due to discoloration and are unsalvageable during property preservation services?

Utilize the Debris Removal Allowable to remove the discolored personal items from the property in accordance with all applicable laws. For additional...

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When must the servicer use the emergency pump water allowable during property preservation services?

When the property is flooded, appropriate measures must be taken to preserve the property. The servicer must utilize the Emergency Pump Water Allowable to...

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What action must be taken if water intrusion is caused by broken/vandalized plumbing during property preservation services?

Turn water off at the curb and main interior shut off. Remove water using Emergency Pump Water Allowable and cap all open lines within the allowable. File...

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What action must be taken if water intrusion is caused by flood/act of nature during property preservation services?

Remove water using Emergency Pump Water Allowable. Install basement moisture control product using the allowable, if applicable. File an insurance/proof...

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What action must be taken if water intrusion is caused by roof leak during property preservation services?

Remove water using Emergency Pump Water Allowable. Utilize the Roof Repair Allowable to patch or repair the roof. If the damage exceeds the allowable or...

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What action must be taken if interior items are damaged due to flooding and are unsalvageable during property preservation services?

Utilize the Debris Removal Allowable to remove the unsalvageable items in accordance with all applicable laws. For additional information please see:...

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What are Fannie Mae's expectations for other property conditions that may cause damage or code violations during property preservation services?

During initial and ongoing services, the servicer is required to identify and address any maintenance and/or repairs that if not addressed will...

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What action must be taken if a sinkhole is found during property preservation services?

Stop work and submit bids via HomeTracker for a sinkhole inspection or submit bids to address the sinkhole if a sinkhole inspection has already been...

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What action must be taken if the foundation is crumbling, has signs of movement, or shows failure beyond typical settlement during property preservation services?

Complete all services as specified and submit bids via HomeTracker by a qualified/licensed/certified contractor for a structural inspection with photos...

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What action must be taken if the exterior breaker panel is missing or exposed and is found during property preservation services?

Submit a bid via HomeTracker to install a universal breaker panel door (or custom door if breaker panel is of unusual size) to cover breaker box. Plywood...

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What action must be taken if the property is found condemned during property preservation services?

Submit a bid via HomeTracker to address the condemnation and include legible copies of all code violations. For additional information please see:...

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What action must be taken if the property is found severely fire damaged during property preservation services?

Submit bids via HomeTracker to address the damage. Refer to Boarding in Section 5: Initial Securing and Initial Services: and Demolition in Section 8:...

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What action must be taken if the property is found fire damaged, yet repairable during property preservation services?

Submit bids to repair any damage which may result in further deterioration of the property if not addressed. For additional information please see:...

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What action must be taken if the property has an interior or exterior oil tank present during property preservation services?

Take photos of the tank, gauge, and of the area under the tank.  Submit a bid via HomeTracker to drain the oil tank. For additional information...

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What are Fannie Mae's expectations for ongoing services during property preservation services?

After initial securing and services are performed, the servicer must complete ongoing services year-round, as needed, until the loan has been liquidated...

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What are Fannie Mae's expectations if damages or additional maintenance needs are found during ongoing services during property preservation services?

When maintenance is needed and/or damages are found that may result in further damage to the property if not addressed, the servicer must attempt to...

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What action must be taken to report work completion to Fannie Mae if allowable work is completed during property preservation services?

All ongoing service completion dates must be reported in the Incurred section of HomeTracker when an over allowable request is submitted. For additional...

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Does Fannie Mae require any general guidelines when completing vacant property initial securing and initial services during property preservation services?

The servicer must adhere to applicable legal requirements and/or local ordinance/association standards when they differ from Fannie Mae requirements. For...

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What action must be taken if the property has a violation posted during property preservation services?

Cure the violation utilizing any applicable allowable. If the cost to cure the violation is over the allowable or an allowable does not exist, submit bid(...

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What action must be taken if the key is found missing out of the lockbox during property preservation services?

Replace the key. The servicer must not utilize the Rekey Allowable to rekey the knob lock. The key must be replaced using the existing key code. For...

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What action must be taken if more than three (3) yard services or snow removal services are required in a month to continue property preservation services?

Submit an over allowable bid via HomeTracker. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission...

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What action must be taken if two (2) or more of the same services (i.e., snow removal) are needed less than ten (10) days apart from each other during property preservation services?

Complete each service as required. For additional information please see: Property Preservation Matrix and Reference Guide, Section 6, Ongoing Services. ...

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When must the servicer transfer or shut off utility services for property preservation services?

When utilities (electricity/gas/water/other) are shared with another unit or electricity is required to operate a sump pump, the servicer must transfer...

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When is the servicer responsible for paying utility bills during property preservation services?

When the servicer transfers utilities (according to the Utility Transfer of this section), Fannie Mae requires the servicer to pay utility bills timely...

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When must the servicer use the utility services initial allowable during property preservation services?

When the servicer transfers utilities (according to the Utility Transfer of this section), the servicer may initially encounter application fees and/or...

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What information should the servicer include when submitting an over allowable bid for an initial or monthly utility service during property preservation services?

The utility invoice showing the breakdown of fees/services.Any documentation of previous utility service communication.For additional information please...

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What information should the servicer include when submitting an over allowable for a monthly utility services payment during property preservation services?

The utility invoice showing the breakdown of fees/services.Any documentation of previous utility service communication.For additional information please...

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What action must be taken if the utility service(s) is shared with other units in a condominium during property preservation services?

Transfer and maintain the utility(ies) for the unit in the servicer's name  For additional information please see: Property Preservation Matrix...

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What action must be taken if the property has shared utilities (e.g., townhome, condos, etc.) or has a fire sprinkler system in a state that is known to freeze during property preservation services?

Transfer and maintain the utility(ies) that supply the heat in the servicer's name. Set the thermostat to 55 degrees. When the heat source requires...

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What action must be taken if the servicer finds damages on initial services and/or ongoing services during property preservation services?

When damages are found upon initial and/or ongoing services that may result in further damage to the property if not addressed, the servicer must attempt...

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When must the servicer use the roof damages allowable during property preservation services?

The servicer must complete interior monthly inspections on a delinquent and vacant property. When a roof leak or an ineffectively tarped roof is...

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When must the servicer submit an over allowable for roof damages during property preservation services?

When the cost to repair exceeds the allowable(s), the servicer must tarp the roof within the allowable, and submit over allowable bid(s) to repair the...

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How can the servicer obtain access for Eagle View reports and receive the Fannie Mae preferred pricing?

To obtain the Fannie Mae discounted price for the PremiumReport by EagleView, visit www.eagleview.com. Servicer and/or their vendor will need to provide...

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What are Fannie Mae's expectations after tarping a roof or finding a tarped roof during property preservation services?

When a tarp has been installed on the roof, the servicer must additionally inspect the interior and exterior of the property more frequently to validate...

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What information should the servicer include when submitting an over allowable for roof damages during property preservation services?

Provide the dimensions of the affected area (square footage).Provide specific interior location of the damage (e.g., the corner of the kitchen ceiling...

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What action must be taken if the property is found frozen or with broken or missing pipes during property preservation services?

When the property has freeze damage and/or broken/missing pipes which are: unable to be capped; will cause further damage to the property if not corrected;...

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What information should the servicer include when submitting an over allowable for freeze damages and/or broken/missing pipes during property preservation services?

Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance and include the following: Provide each date...

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What action must be taken if the pipes are missing and will not result in further damage during property preservation services during property preservation services?

Cap all open lines within the allowable. File an insurance/proof of loss claim, if necessary. Do not submit bids to replace missing pipes. For additional...

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What action must be taken if there is ice present inside the property such as a toilet, basement, plumbing fixtures, etc. during property preservation services?

Shut off water at the curb and at the main interior. Submit a bid for a controlled thaw. File an insurance/proof of loss claim, if necessary. Complete all...

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What are Fannie Mae's expectations if the servicer receives any notification of potential demolition, condemnation, or uninhabitable property during property preservation services?

When a servicer receives notification regarding a potential demolition, condemnation, or uninhabitable property, certain steps must be taken to ensure...

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What information should the servicer include when submitting an over allowable for demolition/condemnation bids during property preservation services?

The servicer must provide the below information to Fannie Mae within fifteen (15) calendar days of the notification of the demolition or condemnation....

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What action must be taken if the servicer receives any legal notice related to property preservation services violations or damages during property preservation services?

From time to time, the servicer may receive notice of a legal action impacting Fannie Mae's interest (e.g., a receivership, condemnation action, a...

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What action must be taken if the servicer finds a flooded property or previously flooded property during property preservation services?

When the property is flooded or has previously been flooded, appropriate measures must be taken to preserve the property. The servicer must utilize any...

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What information should the servicer include when submitting an over allowable for flood damages during property preservation services?

Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance and provide all insurance information,...

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What action must be taken if the servicer finds a vacant lot during property preservation services?

When a servicer finds a vacant lot at initial and/or subsequent inspections or through another notification, the servicer is to utilize any necessary...

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When must the servicer submit an over allowable bid for a vacant lot during property preservation services?

If the cost to maintain the vacant lot exceeds the allowable(s), bids for the over allowable maintenance must be submitted via HomeTracker. For additional...

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What information should the servicer include when submitting an over allowable for a vacant lot during property preservation services?

Refer to Section 2: Technology and Photos within this Property Preservation Guide and provide the following information: All details on the demolition.All...

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What action must be taken if a disaster event occurs or is found during property preservation services?

When a disaster event occurs, the servicer must adhere to policies set forth in Servicing Guide D1-3-01: Evaluating the Impact of a Disaster Event and...

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What action must be taken if the mortgage loan is current at the time of the disaster?

If the servicer has not established Quality Right Party Contact (QRPC), continue monthly property inspections until the damage is remediated. If the...

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What action must be taken if the mortgage loan is delinquent and the property was occupied at the time of the disaster?

Continue at least monthly property inspections until the damage is remediated or the property is identified as vacant. After the damage is remediated...

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What action must be taken if the mortgage loan is delinquent and the occupancy status of the property was unknown at the time of the disaster?

Continue at least monthly property inspections until the damage is remediated or the property is identified as vacant or occupied. Once the property is...

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What action must be taken if the mortgage loan is delinquent and the property was vacant at the time of the disaster?

Immediately commence work necessary to inspect and preserve the property. For additional information please see: Property Preservation Matrix and...

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What action must be taken if the servicer wants to proceed with performing repairs and addressing urgent conditions for properties damaged by a disaster?

The servicer must proceed with initial securing requirements when applicable and follow the Bid After The Fact (BATF) protocol when appropriate. When the...

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What action must the servicer complete regarding pump/remove water during property preservation on a property that has been effected by a disaster?

Pump out any water from structure(s) and clean up any remaining mud/silt left on the floor. Refer to Section 5: Initial Securing and Initial Services...

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What action must the servicer complete regarding debris removal interior/exterior during property preservation on a property that has been effected by a disaster?

Remove wet debris from the interior of the property to clear any hazards and to prevent any potential future damage. Remove any exterior debris blown into...

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What action must the servicer complete regarding discoloration during property preservation on a property that has been effected by a disaster?

Remove wet drywall and clean the framing/studs left exposed (behind the discolored surface) with an antimicrobial solution and apply a stain blocking...

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What action must the servicer complete regarding other water damage during property preservation on a property that has been effected by a disaster?

In the event of water damage, and drywall must be removed, it is recommended to initiate full dry-out with fans. For additional information please see:...

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What action must the servicer complete regarding repair/replace exterior door and repair/replace exterior door jamb during property preservation on a property that has been effected by a disaster?

Secure doors on all structures that have been damaged due to vandalism or warped from water exposure for an extended period of time. Refer to Section 5:...

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What action must the servicer complete regarding repair/replace windows during property preservation on a property that has been effected by a disaster?

If re-glazing/repairing the window is not an option, clear boarding is required in cases where plywood would have previously been utilized on windows....

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What action must the servicer complete regarding roof work patch/repair roof during property preservation on a property that has been effected by a disaster?

Tarp any structure that has an active leak or known damage that would allow water intrusion. For additional information please see: Property Preservation...

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What action must the servicer complete regarding pump repair/replace sump pump during property preservation on a property that has been effected by a disaster?

Restore/Replace any inoperable sump pump. Ensure that electric is determined safe before restoring power for sump pump operation. For additional...

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What action must the servicer complete regarding moisture control during property preservation on a property that has been effected by a disaster?

Utilize moisture control product in areas with minimal air movement. Refer to Section 5: Initial Securing and Initial Services within this Property...

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What does Fannie Mae define as specialty inspections during property preservation services?

Specialty inspections may include the following: well, septic, electrical, plumbing, etc. These inspections are typically only necessary when that...

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Is there an allowable for a specialty inspection during property preservation services?

From time to time, the servicer may need to perform a specialty inspection. Specialty inspections may include the following: well, septic, electrical,...

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What is an example of a specialty inspection scenario submission in HomeTracker during property preservation services?

Property has sump pump at the property. Sump pump works when hooked up to the generator but does not work without the generator and the servicer cannot...

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What action must the servicer complete if the specialty inspection reveals repairs are necessary for property preservation?

If the specialty inspection reveals repairs are necessary, complete work within the necessary allowables. If the work cannot be completed within the...

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What are Fannie Mae's expectations regarding code violations or citations during property preservation services?

The servicer is expected to communicate regularly with Code Enforcement authorities, as well as any HOA on all issues pertaining to Fannie Mae properties....

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What information should the servicer include when submitting an over allowable for a code violation or citation during property preservation services?

The servicer must include the following with the bid submission: The scope of work required by the municipality/association to cure the violation(s).The...

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What information should the servicer include when submitting an over allowable for paying fines/fees/etc. related to curing a code violation during property preservation services?

Include the following with the over allowable bid submission: Documentation (i.e., photos, etc.) to support violation has been cured.The date on which the...

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Related to property preservation services on vacant and delinquent loans, is there general information regarding properties in bankruptcy or loss mitigation?

The servicer must inspect, protect, and preserve property while the loan is delinquent and the property is vacant. This is also required on loans in...

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What are Fannie Mae's expectations for a loan in bankruptcy during property preservation services?

The servicer must consult with its legal department or bankruptcy attorney when addressing preservation issues for vacant properties in bankruptcy. The...

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What information should the servicer include when submitting an over allowable for a property that is or has been in bankruptcy during property preservation services?

When submitting bids on properties that are in (or have been in) bankruptcy, the servicer must provide the following information when submitting a bid via...

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Does the servicer need to file a Motion for Relief (MFR) on a mortgage during bankruptcy before proceeding with property preservation services?

When necessary, a Motion for Relief may be filed simultaneously when requesting permission from debtor's counsel to proceed with preservation. For...

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What are Fannie Mae's expectations for property preservation services on a loan in loss mitigation?

The servicer must maintain vacant properties regardless of loss mitigation status and regardless of Quality Right Party Contact (QRPC). If a legally...

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Is a real estate agent or broker considered a legally responsible party for property preservation services during loss mitigation or any other loan status?

The real estate agent/broker listing a property is not considered a legally responsible party. The servicer is responsible for ensuring the property is...

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What information should the servicer include when submitting an over allowable for a property that is or has been in loss mitigation for property preservation services?

For properties that are in or have been in loss mitigation, the servicer must provide the following information when submitting a bid via HomeTracker:...

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What does BATF mean during property preservation services?

Bid After The Fact (BATF). For additional information please see: Property Preservation Matrix and Reference Guide, Section 12, Bid After The Fact. ...

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What are Fannie Mae's expectations around BATF for property preservation services?

Fannie Mae's selection of allowable services addresses the majority of maintenance and repair items needed to properly maintain a property. However,...

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What are some examples of a BATF for urgent conditions during property preservation services?

Examples of a BATF for over allowable maintenance as specified in this Property Preservation Guide include, but are not limited to: Yard services where...

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Does a HomeTracker bid need to be submitted when the servicer completes a BATF for property preservation services?

A HomeTracker bid submission with proper justification is required for any BATF and must be submitted within fifteen (15) calendar days of the completion...

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What are the time frames for work completion of property preservation services?

All maintenance and repairs within the allowables must be completed within initial and ongoing services timeframes. When bids have been approved by Fannie...

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What are the completed work documentation requirements for property preservation services?

All work completed within the allowables must have before, during, and after date stamped photos and any supporting documentation made available to Fannie...

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What happens if the servicer does not complete work to Fannie Mae satisfaction for property preservation services?

When Fannie Mae reviews servicer work completion and determines work is either unsatisfactory, incomplete, or the photos do not support work completion,...

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What are Fannie Mae's expectations when the servicer receives any damage notification during property preservation services?

The servicer must adhere to requirements set forth in the insurance carrier's policy within the time period specified in said policy. This includes,...

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Does the servicer stop preservation work while a hazard claim is being pursued for property preservation services?

The servicer must continue to preserve and protect the property while awaiting the decision from the insurance carrier (borrower's or Lender Placed...

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What are Fannie Mae's expectations once hazard claim funds are received during property preservation services?

Once funds have been received, the servicer must refer to Servicing Guide B-5-01: Insured Loss Events to apply funds appropriately. For additional...

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What are Fannie Mae's expectations for repairing non insurable damages during property preservation services?

Servicer is to proceed with repairing damages deemed non-claimable/non-recoverable by utilizing any available allowable thresholds or by submitting over...

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What are Fannie Mae's expectations if the occupancy status changes during property inspections during property preservation services?

Once delinquent loan property inspections have begun, property inspections must continue regardless of occupancy status. An exception to this rule is when...

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When must the servicer stop preservation and inspection activities after foreclosure, mortgage release or paid in full loans during property preservation services?

The servicer must cease inspection and property preservation activities following a foreclosure sale, completed Mortgage Release (deed-in-lieu of...

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When must the servicer stop preservation and inspection activities after third-party sale loans during property preservation services?

When a property liquidates via Third-Party Sale (TPS), the servicer must continue performing necessary activities (i.e., inspections, property...

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When can a servicer be reimbursed for property preservation services and inspection expenses during property preservation services?

The servicer should reference Servicing Guide F-1-05: Expense Reimbursement for expense reimbursement process and defined expense reimbursement limits (...

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Does Fannie Mae offer a timeline and completion schedules during property preservation services?

For information and schedules, please see: Property Preservation Matrix and Reference Guide, Section 17, Addendums. ...

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Does Fannie Mae offer debris and personal property cubic yard examples during property preservation services?

For information and schedules, please see: Property Preservation Matrix and Reference Guide, Section 17, Addendums. ...

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