Servicing Guide

Published September 9, 2020

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Should legal proceedings be suspended if the servicer is unable to determine the condition of a property after a disaster event?

If the servicer has any doubt about the effect of the disaster event on the condition of a property or the borrower's employment or income status, it must suspend any legal proceedings, including foreclosure proceedings, already in process until it can determine the accurate status, and make its final decision on the appropriate course of action based upon its findings. The servicer must receive Fannie Mae's approval before granting a suspension that exceeds 90 days.

The servicer must not initiate or complete foreclosure proceedings related to a property that has been destroyed until it evaluates the economic feasibility of pursuing the foreclosure.

For more information please see: D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower

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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.

Guide Resources

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