Servicing Guide

Published September 9, 2020

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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 allowable(s) to maintain the lot and notify Fannie Mae's Property Preservation team via email at property_preservation@fanniemae.com.

When emailing the property preservation mailbox, the servicer must provide the following in HomeTracker, under the "Attachments" and/or "Case Notes" tab(s):

  • List of ALL inspections completed including inspection completion date and occupancy status. The servicer is not required to attach actual inspection results.
  • Date property was initially secured after vacancy (servicer gained access), if applicable.
  • All initial secure photos to include property condition photos, if applicable.
  • Legible copies of all code violations.
  • Insurance documents (Explanation of Benefits (EOB), adjuster’s estimate, and/or denial letter) if applicable.
  • Reason for vacant lot (i.e., structure relocated, demolished, etc.).
  • If the property was demolished, include:
    • Person or entity that demolished the property (i.e., borrower, city, etc.).
    • Date of demolition. o Reason for demolition (i.e., fire, structural failure, condemnation, etc.).
  • Legible copies of all demolition notices and/or code violations, if applicable.

 

  • Details of any fines/fees/liens that have been assessed or are accumulating and at what frequency, if applicable. 

For additional information please see: Property Preservation Matrix and Reference Guide, Section 8, Damaged Properties.

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Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

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