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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Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 9: Specialty Inspections)

Section 9: Specialty Inspections

Specialty Inspection Overview

From time to time, the servicer may need to perform a specialty inspection. Specialty inspections may include the following: well, septic, electrical, plumbing, etc. These inspections are typically only necessary when that particular system is not working and the servicer needs to get that particular system up and running in order to preserve the property. These types of inspections require a bid for a qualified/licensed/certified contractor via HomeTracker. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidelines. Any needed immediate repairs resulting from one of these types of inspections must be submitted as a bid on company letterhead by two separate qualified/licensed/certified companies specializing in that specific trade.

  • Example: Property has sump pump at the property. Sump pump works when hooked up to the generator but does not work without the generator and the servicer cannot transfer utilities until an electrical inspection has been conducted. The servicer must submit a bid for an electrical systems check via HomeTracker.

If the specialty inspection reveals repairs are necessary, complete work within the necessary allowables. If the work cannot be completed within the allowable, or if an allowable has been exhausted or does not exist, bids must be submitted via HomeTracker.

When Submitting a Bid

Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance and include the following:

•    Full scope of work 
•    Copy of specialty inspection results 

 

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