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 regarding code violations or citations during property preservation services?

The servicer is expected to communicate regularly with Code Enforcement authorities, as well as any HOA on all issues pertaining to Fannie Mae properties. Within fifteen (15) calendar days of discovery of violation(s) at the property, the servicer must check with HOA and local municipalities to obtain information regarding any outstanding issues/violations/fines/fees on any maintenance, utility, permit(s), property registration, or other property related issues. If the violation is unclear or while the servicer is waiting for clarification from the city or HOA, the servicer must still continue with all necessary preservation within the allowable thresholds.

If a violation exists, the servicer must determine if work is completed.

If work is not completed AND work can be completed within allowable threshold(s), the servicer must complete work within fifteen (15) calendar days of notification of violation. If work cannot be completed within allowable threshold(s), the servicer must submit an over allowable bid request within fifteen (15) calendar days of notification of violation.

For additional information please see: Property Preservation Matrix and Reference Guide, Section 10, Code Violations.

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