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 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 the utility(ies) into its name within fifteen (15) calendar days of initial securing. The Utility Transfers and Shut Off Allowable includes verification utilities are disconnected/transferred/connected and wait time to meet with utility company, if necessary.

Water is required to be shut off curbside and at the main interior water supply. If it is not possible to shut off the water at the curb due to damages, shut water off at the main interior water supply and utilize the Plumbing Services Allowable to repair shut off curbside. Refer to Winterization / Rewinterization in Section 5: Initial Securing and Initial Services within this Property Preservation Guide for further guidance.

The servicer must have a procedure in place to handle difficulties with utility transfers to ensure utilities are activated when required.

For additional information please see: Property Preservation Matrix and Reference Guide, Section 7, Utilities.

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