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 information should the servicer include when submitting an over allowable for a code violation or citation during property preservation services?

The servicer must include the following with the bid submission:

  • The scope of work required by the municipality/association to cure the violation(s).
  • The date on which the servicer first received the violation(s).
  • Any fines/fees/liens that have been assessed or are accumulating and at what frequency (e.g., $10,000 lien for the roof, fines are accruing at $500 per day beginning January 1, 2017).
  • Legible copy of the violation(s).

Follow Fannie Mae guidance per bid response. Once the violation is cured, negotiate any associated fines/fees/etc. as appropriate.

  • Pay the violation and follow reimbursement guidelines as outlined in Section 16: Reimbursement Requests in this Property Preservation Guide if fees are less than or equal to the allowable threshold.
  • Submit an over allowable bid for fines/fees/etc. if fees are greater than the allowable threshold.

In the event the Code Enforcement authorities, HOA, etc. have already cured the violation and the invoice is received by the servicer, the servicer must pay the violation if the fees are less than or equal to the allowable threshold. Servicer must follow the reimbursement guidelines outlined in Section 16: Reimbursement Requests in this Property Preservation Guide. If the fees are greater than the allowable threshold, the servicer must submit an over allowable bid via HomeTracker for fines/fees/etc.

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

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