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 5: Initial Securing and Initial Services) (Overview)

Section 5: Initial Securing and Initial Services

See below for sub-topic: Section 5: Initial Securing and Initial Services: Overview

To see other sub-topics for Section 5: Initial Securing and Initial Services, please click on any of the topics below: 

Section 5: Initial Securing and Initial Services: Initial Securing

Section 5: Initial Securing and Initial Services: Initial Services: Property Exterior

Section 5: Initial Securing and Initial Services: Initial Services: Property Interior

Section 5: Initial Securing and Initial Services: Identifying Property Conditions

Initial Services: Overview

Once an inspection or other notification determines a property vacant for the first time, the servicer is expected to complete initial securing and initial services within fourteen (14) calendar days from the first time vacant (FTV). When a property securing a Fannie Mae loan includes multiple units, each unit used as collateral for the loan must also be secured as it becomes vacant. The servicer must research if unsure of the property line or location of outbuildings included in the property.

An industry best practice is to post a notice at the primary entrance advising any potential occupant that the servicer has information the property is no longer occupied, appears vacant or has been abandoned, and will be securing the property if no response is received prior to posting expiration. A notice should provide clear contact information for either the servicer, the property preservation company, or both, and a projected securing date, not exceeding the fourteen (14) calendar days from FTV.

Note: Regardless of the servicer’s decision to post a notice, initial securing and initial services must be completed within fourteen (14) calendar days from FTV.

If the servicer utilizes a vacancy posting notice to determine vacancy, initial securing and initial services must be completed within seven (7) calendar days of vacancy posting notice expiration AND within fourteen (14) calendar days from the original vacancy indicator.

The servicer is authorized to perform common property preservation work, including but not limited to: registrations, postings, maintenance, and repairs, in accordance with Defined Expense Reimbursement Limits in Servicing Guide F-1-05: Expense Reimbursement. There is no need to seek Fannie Mae prior approval for services completed within the allowables.

  • The servicer must adhere to applicable legal requirements and/or local ordinance/association standards when they differ from Fannie Mae requirements.
  • If any of the initial services exceed the allowables, the servicer must submit an over allowable bid within fifteen (15) calendar days of the date of discovery. Date of discovery is the day the servicer discovered services were required. Refer toSection 2: Technology and Photos within this Property Preservation Guide for information on submitting bids. All initial securing and initial services completion dates must be reported in the Incurred section of HomeTracker when an over allowable request is submitted.
  • When the servicer is notified of a code violation, the servicer must refer to Section 10: Code Violations within this Property Preservation Guide for further guidance.

Initial Securing

The following services must be completed within fourteen (14) calendar days from the FTV. Refer to the expectations and details within each service for further guidance.

  • Rekey / Lock Changes
  • Secure Detached Structure
  • Contractor Posting
  • Boarding
  • Clear Boarding and Reglaze / Repair / Replace Window
  • Security Door
  • Exterior Door / Exterior Door Jamb
  • Repair Garage Door
  • Pool / Hot Tub / Spa Securing
  • Pool / Hot Tub / Spa Covers
  • Fence Repair

Initial Services

The following services must be completed within fourteen (14) calendar days from the FTV. Refer to the expectations and details within each service for further guidance.

  • Initial Services: Property Exterior
    • Exterior Debris Removal
    • Move Personal Property
    • Yard Services
    • Trim Trees / Shrubs / Vines
    • Tree Removal
    • Snow Removal
    • Address Posting
    • Roof Patch / Repair
    • Chimney Caps
    • Clean Gutters
    • Repair Gutter
    • Exterior Handrails
    • Exterior Dryer Vent Cover
    • Roof Cleaning
    • Fascia
    • Soffit
    • Step Repair
    • Graffiti Removal
  • Initial Services: Property Interior
    • Interior Debris Removal / Move Personal Property
    • Cleaning Refrigerator or Stand-Alone Freezer
    • Cleaning Toilets
    • Winterization and Re-Winterization
    • Capping Wires
    • Capping Water / Sewer Lines
    • Capping Gas Lines
    • Extermination
    • Repair / Replace Sump Pump
    • Dead Animal Removal
    • Basement Moisture Control
    • Plumbing
    • Discoloration
    • Emergency Pump Water

Identify Property Condition Issues

To see other sub-topics for Section 5: Initial Securing and Initial Services, please click on any of the topics below:

Section 5: Initial Securing and Initial Services: Initial Securing

Section 5: Initial Securing and Initial Services: Initial Services: Property Exterior

Section 5: Initial Securing and Initial Services: Initial Services: Property Interior

Section 5: Initial Securing and Initial Services: Identifying Property Conditions

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