Servicing Guide

Published September 9, 2020

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What data is a servicer required to provide in SMDU UI if an imminent default evaluation was determined outside of SMDU?

Below is a list of mandatory and applicable data elements that must be provided by the servicer in order for SMDU to run an imminent default evaluation as part of an auto-decisioning request, case creation request, and/or IDE Stand-Alone request. 

IDE Data Element

SMDU UI Page

Mandatory for SMDU to

Perform IDE

Notes

Representative Credit Score

Borrowers

Yes

 

Asset

Borrowers

Yes

The following asset types will be used to determine the total cash reserve amount.

Checking Account, Savings Account, Money Market/Mutual Fund, Severance Package, Other Liquid Asset, Stock, Trust/Annuity Funds, Bond, Cash on Hand, and Certificate of Deposit, Gift

 

IDE will not consider the following: Automobile, Boats RV, Life Insurance, Other no-liquid asset, Real Estate not for sale, and Retirements Funds IRA 401K

Asset Amount

Borrowers

Yes

If there are no assets select Asset Type Checking and enter Zero in Asset Amount.

Income

Borrowers

Yes

 

Income Amount

Borrowers

Yes

Enter monthly gross income, unless drop down name references net

Expenses

Borrowers

Yes

Must be populated with a valid expense enumeration type.

Does borrower currently occupy or intend to occupy property as primary residence?

Borrowers

Yes

 

Current Property Usage

Property

Yes

 

Property Number of Units

Property

Yes

 

Monthly Principal & Interest (pre-workout)

Loan & Origination

Yes

 

Last Paid Installment Date

Loan & Origination

Yes

 

Monthly Real Estate Taxes

Loan & Origination

Yes

 

Monthly Association Dues/Fees

Loan & Origination

If applicable

 

Monthly Hazard Insurance

Loan & Origination

If applicable

 

Monthly Flood Insurance

Loan & Origination

If applicable

 

Number of times the borrower has been exactly
30 days delinquent within the last six months

Delinquency & Foreclosure

Yes

Refer to the link for instructions on how to complete this data element.

Current Escrow Shortage Monthly Payment

Insurance & Escrow

If applicable

 

Hardship Reason

Hardship & Imminent Default

Yes

 

Does Loan Meet Imminent Default Criteria?

Hardship & Imminent Default

If applicable

If "Does Loan Meet Imminent Default Criteria? is populated then “Method Used to Evaluate for Imminent Default” needs populated and vice versa.

Method Used to Evaluate for Imminent Default

Hardship & Imminent Default

If applicable

If "Does Loan Meet Imminent Default Criteria? is populated then “Method Used to Evaluate for Imminent Default” needs populated and vice versa.

For Additional information please refer to the "Imminent Default Evaluation" section of the SMDU UI User Guide.

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

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Visit Selling and Servicing Guide Communications and Forms

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