Servicing Guide

Published June 10, 2020

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

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What are 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 maintain and/or repair those damages using the allowable(s). When the cost to maintain and/or repair such damage exceeds the allowable(s), or an allowable does not exist, the servicer must submit over allowable bid(s) to maintain and/or repair the damage within fifteen (15) calendar days of the date of discovery. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance.

For additional information please see: Property Preservation Matrix and Reference Guide, Section 6, Ongoing Services.

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