Servicing Guide

Published September 9, 2020

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When using the SMDU UI, what Asset types should be entered into the Imminent Default Evaluation (IDE) Tool?

In the "Assets" section of the IDE, enter any which have value in the market by selecting the "Add" button. You should select all that apply for this borrower. DO NOT enter any information about the subject property in this section.

Currently an asset type is required for an IDE. If there are no assets, select “Checking Account” and enter zero ($0.00) for the Asset Amount. 

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 asset types:

Automobile, Boats RV, Life Insurance, Other no-liquid asset, Real Estate not for sale, and Retirements Funds IRA 401K

For additional information about the IDE Tool, please refer to the "Evaluate for Imminent Default Using Fannie Mae's Stand-Alone Tool" section of the SMDU UI User Guide.

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