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 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 

 

Change in Occupancy

Property inspections must continue as long as the loan remains 45+ days delinquent, regardless of occupancy status. An exception to this rule is when the servicer achieves Quality Right Party Contact (QRPC) and the property is borrower occupied. When a servicer determines a property occupied after maintenance has begun, the servicer must cease property preservation activities until servicer determines a property is vacant again. 

See Servicing Guide D2-2-10: Requirements for Performing Property Inspections for further guidance on delinquent loan property inspection requirements.


Post Liquidation, Paid in Full, or Mortgage Release

The servicer must cease inspection and property preservation activities following a foreclosure sale, completed Mortgage Release (deed-in-lieu of foreclosure), or when the loan is paid in full unless otherwise instructed by Fannie Mae, even if title transfer to Fannie Mae has not completed (such as during an applicable redemption period or when the court has not yet confirmed or ratified the sale).

See Servicing Guide E-4.3-01: Managing the Property Post-Foreclosure Sale and E-4.3-02: Inspecting Properties Post-Foreclosure Sale for further guidance.

Third-Party Sales

When a property liquidates via Third-Party Sale (TPS), the servicer must continue performing necessary activities (i.e., inspections, property preservation, etc.) to protect Fannie Mae’s interest in the property until the latter of either the date the foreclosure sale is completed (including receipt of funds), or the date the court confirms or ratifies the sale, when applicable.

See Servicing Guide E-3.5-02: Handling Third-Party Sales for further guidance.

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.