The servicer must not charge the borrower a fee for releasing, reconveying, or discharging Fannie Mae’s lien against the property, unless all of the conditions listed in the following table apply.
| ✓ | Conditions under which a release of lien fee may be charged |
|---|---|
|
The fee is paid to a third party for services rendered. For example, fees paid to a recorder of deeds, a notary public, or a trustee under a deed of trust (even if the trustee is the servicer’s affiliate or subsidiary). |
|
|
Such fees are not prohibited by applicable law, the terms of the note or security instrument, or the mortgage insurer or guarantor. |
|
|
The amount of the fee is consistent with other fees permitted by the mortgage insurer or guarantor, if applicable. |
|
| The release of lien is not related to a charge-off (see D1-1-02, Evaluating a First Lien Mortgage Loan for Charge-Off and Release of Lien). |
The servicer must follow the procedures in Reimbursement for Recording Costs Associated with a Mortgage Loan Satisfaction or Charge-Off in F-1-05, Expense Reimbursement in order to seek reimbursement from Fannie Mae.
Recent Related Announcements
The table below provides references to recently issued Announcements that are related to this topic.
| Announcements | Issue Date |
|---|---|
| Announcement SVC-2019-03 | May 15, 2019 |