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.

View All Servicing Policy Updates

Download PDF

Hint: Ask in a form of a question.

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

Related Articles

Fannie Mae Property Preservation Matrix April 2019 (Section 1: Introduction to Fannie Mae Property Preservation)

Introduction to Fannie Mae Property Preservation Property Preservation Matrix and Reference Guide Overview  Property Preservation for Fannie Mae...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 2: Technology and Photos)

Section 2: Technology and Photos HomeTracker® Requirements Submitting Bids in HomeTracker Photo Requirements   HomeTracker® Requirements...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 3: Inspections)

Section 3: Inspections Inspection Overview The servicer must use a Property Inspection Report (Form 30) or its own form that provides equivalent...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 4: Property Registrations)

Section 4: Property Registrations Property Registrations Overview Upon delinquency, the servicer must determine any requirements imposed by municipal,...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 6: Ongoing Services)

Section 6: Ongoing Services Ongoing Services After initial securing and services are performed, the servicer must complete ongoing services year-...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019: (Section 8: Damaged Properties/Disaster Impacted Properties)

Section 8: Damaged Properties / Disaster Impacted Properties Damaged Properties Overview Roof Damages Freeze Damages and Broken/Missing Pipes Demolition/...

Read more

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

Section 9: Specialty Inspections Specialty Inspection OverviewFrom time to time, the servicer may need to perform a specialty inspection. Specialty...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 10: Code Violations / Citations)

Section 10: Code Violations / Citations Code Violations / CitationsThe servicer is expected to communicate regularly with Code Enforcement authorities, as...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 11: Loans in Bankruptcy and/or Loss Mitigation)

Section 11: Loans in Bankruptcy and/or Loss Mitigation Overview Bankruptcy Loss Mitigation   Overview The servicer must inspect, protect, and...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 12: Bid After The Fact)

Section 12: Bid After The Fact Bid After The Fact (BATF)Fannie Mae’s selection of allowable services addresses the majority of maintenance and...

Read more

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...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 14: Hazard Claims)

Section 14: Hazard Claims Hazard Claims Overview The servicer must adhere to requirements set forth in the insurance carrier’s policy within the...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 15: Change in Occupancy / Loan Status)

Section 15: Change in Occupancy / Loan Status Change in Occupancy  Post Liquidation, Paid in Full, or Mortgage Release  Third-Party Sales ...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 16: Reimbursement Requests)

Section 16: Reimbursement Requests Reimbursement RequestThe servicer should reference Servicing Guide F-1-05: Expense Reimbursement for expense...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 17: Addendums)

Section 17: Addendums   Timeline and Completion Schedules  Debris and Personal Property Cubic Yard Matrix         ...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 5: Initial Securing and Initial Services) (Initial Securing)

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

Read more

Fannie Mae Property Preservation Matrix- April 2019 (Section 5: Initial Securing and Initial Services) (Property Exterior)

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

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 5: Initial Securing and Initial Services) (Identifying Property Conditions)

Section 5: Initial Securing and Initial ServicesSee below for sub-topic: Section 5: Initial Securing and Initial Services: Identifying Property Conditions...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Section 7: Utilities)

Section 7: Utilities Utility Transfers and Shut Off  Utility Services Utility Transfers and Shut OffWhen utilities (electricity/gas/water/other)...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide (Revisions for April 2019)

Revisions for April 2019 The Property Preservation Matrix and Reference Guide has been updated. Revisions include, but are not limited to, the pages noted...

Read more

Fannie Mae Property Preservation Matrix and Reference Guide April 2019 (Table of Contents)

Table of Contents Revisions for April 2019 Section 1: Introduction to Fannie Mae Property Preservation Property Preservation Matrix and Reference Guide...

Read more

Fannie Mae Property Preservation Matrix- April 2019 (Section 5: Initial Securing and Initial Services) (Property Interior)

Section 5: Initial Securing and Initial ServicesSee below for sub-topic: Section 5: Initial Securing and Initial Services: Initial Services: Property...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.