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 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. Verify electricity is on.

3. Verify the electrical system is operational.

4. Verify the sump pump is working through the property's utilities and not solely from a generator. 

The sump pump and electricity must be verified as operational within seven (7) calendar days of the electricity being transferred into the servicer's name.

When the sump pump is inoperable, the servicer must use the Sump Pump Allowable to repair or replace the pump, plumbing or electric lines to the sump pump. When electricity cannot be restored due to electrical damages, bids must be submitted via HomeTracker. The allowable may also be used to reroute or extend the exterior discharge hose to divert the water away from the house.

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

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