Servicing Guide

Published September 9, 2020

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How should a request for the release of a beneficial easement be evaluated?

When a borrower requests a release of an easement, the servicer must ensure that the borrower submits a completed Application for Release of Security (Form 236). A complete application must include all information and documentation required per the form.

Request for the Release of a Beneficial Easement:The servicer must evaluate the request for the release of a beneficial easement to determine whether or not the release will adversely affect the value of the property securing a mortgage loan by considering the following:

  • the convenience, access, or other benefits provided by the easement, which will be lost upon release, and

  • the value of the property with the easement in place compared with the value of the property without the easement.

The servicer must assess the effect a release of the easement may have on the use or value of the property.

The following table describes the servicer's action based upon the impact to the property securing a mortgage loan. 

If the servicer has determined that releasing a beneficial easement... Then the servicer...

will not adversely affect the value of the property securing a mortgage loan or restrict the borrower’s use of the property securing a mortgage loan

is authorized to approve the request to release the easement on Fannie Mae’s behalf.

will adversely affect the value of the property securing a mortgage loan, and the LTV based on the estimated property value after the easement is released is less than 60% is authorized to approve the request to release the easement on Fannie Mae’s behalf.

will adversely affect the value of the property securing a mortgage loan, and the LTV based on the estimated property value after the easement is released is greater tan or equal to 60%

is authorized to approve the request to release the easement if the borrower agrees to reduce the mortgage loan balance to maintain the LTV ratio immediately prior to releasing the easement.

expected to adversely affect the future use of marketability of the property securing a mortgage loan

must decline the request to release the easement.

For more information please see: D1-1-01, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan

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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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