Servicing Guide

Published September 9, 2020

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Launch Ask Poli  

Download PDF Guide

You can also download the printable ~800 page PDF, which include links.

Download Now

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-round, as needed, until the loan has been liquidated or delinquency resolved. Ongoing services typically occur between ten (10) and twenty (20) calendar days apart. The servicer should refer to their inspection reports and any available historical/forecasting information (weather, etc.) to assist in determining the proper frequency and the necessary maintenance/safety hazards/damages to address. The servicer may consider increasing inspections in seasons when less maintenance is necessary to ensure the property remains secure and services are not required. The servicer must refer to Section 5: Initial Securing and Initial Services within this Property Preservation Guide for further guidance on each service.

When maintenance is needed and/or damages are found that may result in further damage to the property if not addressed, the servicer must attempt to maintain and/or repair those damages using the allowable(s).

When the cost to maintain and/or repair such damage exceeds the allowable(s), or an allowable does not exist, the servicer must submit over allowable bid(s) to maintain and/or repair the damage within fifteen (15) calendar days of the date of discovery. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance. All ongoing service completion dates must be reported in the Incurred section of HomeTracker when an over allowable request is submitted.

The servicer must adhere to applicable legal requirements and/or local ordinance/association standards when they differ from Fannie Mae requirements.

What To Do If

If…

Then…

The property has a violation posted,

Cure the violation utilizing any applicable allowable. If the cost to cure the violation is over the allowable or an allowable does not exist, submit bid(s) via HomeTracker. Refer to Section 2: Technology and Photos within this Property Preservation Guide for bid submission guidance.

The key is missing out of the lockbox,

Replace the key. The servicer must not utilize the Rekey Allowable to rekey the knob lock. The key must be replaced using the existing key code.

More than three (3) yard services or snow removal services are required in a month,

Submit an over allowable bid via HomeTracker.

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

Two (2) or more of the same services (i.e., snow removal) are needed less than ten (10) days apart from each other,

Complete each service as required.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

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.