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.

View All Servicing Policy Updates

Download PDF

Hint: Ask in a form of a question.

For best results, pose your search like a question.

C-2.2-03: Determining Whether to Provide a Refund or Credit for Overcharges (11/12/2014)

The servicer must credit the borrower’s account for any net overcharge by reallocating the borrower’s actual monthly payments between P&I, or by reducing the UPB of the mortgage loan when the overcharge is related to an incorrect interest rate only.

When the overcharge is related to an incorrect monthly payment, credits may be used instead of cash refunds when

  • the servicer has advanced funds to cure an escrow overdraft,

  • the mortgage loan is delinquent,

  • the adjustment error is an interest rate change error only, or

  • the adjustment error is a payment change error only.

The servicer must establish its own procedures to ensure compliance with all of Fannie Mae’s policies regarding the correction of adjustment errors for all mortgage loans it services for Fannie Mae, regardless of whether they were originated under standard or negotiated ARM plans.

The servicer must follow the applicable procedures in either Refunding or Crediting Overcharges Resulting from an Incorrect Monthly Payment and an Incorrect Interest Rate, or Refunding or Crediting Overcharges Resulting from an Incorrect Monthly Payment in F-1-01, Servicing ARM Loans.

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

What are the servicer requirements when determining whether to provide a refund or credit for overcharges?

The servicer must credit the borrower’s account for any net overcharge by reallocating the borrower’s actual monthly payments between P&I,...

Read more

C-2.3-03: Repurchasing Converted MBS Mortgage Loans and Redelivering Them to Fannie Mae (11/12/2014)

If the borrower exercises the conversion option for an ARM that is in an MBS pool, the servicer must repurchase the mortgage loan from the pool in the...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
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.