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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D1-1-03: Evaluating a Second Lien Mortgage Charge-Off (11/12/2014)

If the servicer of a second lien mortgage loan determines that it is not in Fannie Mae’s best interest to pursue collection efforts or legal actions against the borrower, it must submit a recommendation for resolving the second lien mortgage loan delinquency to Fannie Mae.

The servicer must follow the procedures in Requesting Approval for a Charge-Off of a Second Lien Mortgage Loan in F-1-25, Requesting Fannie Mae’s Approval via Fannie Mae’s Servicing Solutions System for submitting a recommendation to Fannie Mae.

See the Investor Reporting Manual for reporting a charge-off to Fannie Mae.

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When can a second lien charge-off be considered?

A second lien charge-off can be considered if a servicer determines that it is not in Fannie Mae’s best interest to pursue collection efforts or...

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