Servicing Guide

Published September 9, 2020

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What actions must be taken if the servicer learns after the fact that a transfer has occurred?

When the servicer receives a request for a statement of account in connection with a possible transfer of ownership of a property, or if the servicer learns after the fact that a transfer has occurred, the servicer must take the actions listed in the following table.

The servicer must...
 

Review the mortgage loan instruments to determine whether the mortgage loan is subject to enforcement of the due-on-sale (or due-on-transfer) provision.

 

Investigate any questionable changes to determine whether a transfer of ownership has occurred.

 

Determine whether any action needs to be taken to enforce the due-on-sale (or due-on-transfer) provision.

The statement of account that the servicer issues in connection with a possible transfer must clearly state the items listed in the following table.

The statement of account must clearly...
 

State Fannie Mae’s right to enforce the due-on-sale (or due-on-transfer) provision, if applicable.

 

Describe Fannie Mae’s policy regarding enforcement of due-on-sale (or due-on-transfer) provisions.

 

Describe any exceptions or limiting conditions to the policy.

For more information please see: D1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted

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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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