Servicing Guide

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 13: Completion of Work)

Section 13: Completion of Work

Timeframes

Completed Work Documentation

Work Completion Failures

 

Timeframes

All maintenance and repairs within the allowables must be completed within initial and ongoing services timeframes. When bids have been approved by Fannie Mae, the servicer has fifteen (15) calendar days from the time of the approval to complete the work. The servicer then has ten (10) calendar days from work completion date to report the work completion to Fannie Mae via HomeTracker.

When a servicing error is identified and the servicer is instructed to repair damages at the servicer’s expense, the servicer has fifteen (15) calendar days from notification of the servicing error to complete the work. The servicer then has ten (10) calendar days from work completion date to report the work completion to Fannie Mae via HomeTracker.

Fannie Mae samples a selection of the servicer’s portfolio by conducting quality control inspections in order to assess property condition and the servicer’s compliance with property preservation requirements. All inspection reports are available for review within HomeTracker. If an identified condition requires immediate attention, the servicer is notified via HomeTracker. The servicer has fifteen (15) calendar days to either address these conditions utilizing available allowable(s) or by submitting a bid via HomeTracker. Refer to Section 2:Technology and Photos within this Property Preservation Guide for bid submission guidelines.

Completed Work Documentation

All work completed within the allowables must have before, during, and after date stamped photos and any supporting documentation made available to Fannie Mae upon request. Refer to Section 2: Technology and Photos, as well as Section 5: Initial Securing and Initial Services and Section 6: Ongoing Services in this Property Preservation Guide for further photo documentation guidance.

When Fannie Mae requires the servicer to provide work completion results, the following information must be provided via HomeTracker when reporting completion of repairs:

•    Dates work was started and completed.  

•    Scope of work completed with a line by line description of repairs. 

•    Complete view (side by side, date stamped, color photos of the entire area where damages occurred) of before, during, and after photos. During photos must include removal (haul away) photos of all materials removed, if applicable. 

•    Included photos must be clearly labeled identifying before, during, and after.  

•    For any code violation, a document stating violation was cleared must be uploaded into HomeTracker (email from code enforcement officer will be acceptable). In the event written documentation is unavailable, the servicer may document verbal communication. 

Work Completion Failures

When Fannie Mae reviews servicer work completion and determines work is either unsatisfactory, incomplete, or the photos do not support work completion, the servicer must remedy deficiencies noted and provide results via HomeTracker within seven (7) calendars days of Fannie Mae’s response/notice of unsatisfactory work.

Fannie Mae reserves the right to pursue remedies per the Fannie Mae Servicing Guide when the servicer has not met the required timeframes or the work is deficient. Any property may be subject to audit. The servicer and/or the servicer’s vendor must provide any documents and/or additional information as requested by Fannie Mae within seven (7) calendar days.

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