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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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), the servicer must tarp the roof within the allowable and submit over allowable bid(s) to repair the roof. Should the servicer identify new roof damage caused by a claimable peril, the servicer may tarp the roof using the Roof Patch / Repair Allowable until the insurance adjuster inspects the property.

Prior to installing tarp, the servicer must take all before photos for the roof repair/replacement bid that will be required once the insurance adjuster inspects the property for damages. When a tarp is installed, the servicer must inspect the interior and exterior of the property more frequently to validate the continued effectiveness of the tarp. Fannie Mae’s expectation is that the tarp would not remain on the roof more than 60 days from the date of install. Should the tarp become ineffective during the 60 day period, bids to repair must be submitted via HomeTracker. the date of install. Should the tarp become ineffective during the 60 day period, bids to repair must be submitted via HomeTracker.

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

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