Servicing Guide

Published June 10, 2020

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.

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A4-2.1-05: Requirements for Collection and Foreclosure Prevention Strategies Unique to Second Lien Mortgage Loans (11/12/2014)

The following table lists the responsibilities of the servicer of a second lien mortgage loan in implementing its collection and foreclosure prevention strategies.

The servicer must…

Contact the first lien mortgage servicer to determine the following:

  • the status of the first lien mortgage loan,

  • any previous or ongoing collection efforts employed by that servicer, and

  • the borrower’s commitment and performance during those collection efforts.

The servicer must take the information received from the first lien mortgage servicer into consideration when deciding the collection method it intends to use.


Keep in mind that the servicing of delinquent second lien mortgage loans requires accelerated follow-up and expedited liquidation decisions if the collection methods used are not successful.


Begin its telephone contact attempts before it mails the late payment notice, concentrating particularly during the five- to ten-day period that precedes the due date of the next installment.

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