Servicing Guide

Published July 15, 2020

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Can the servicer negotiate a short payoff for a loan associated with a grant deed?

The servicer must contact its Fannie Mae Servicing Representative (see F-4-03, List of Contacts) if it is contacted by a party about accepting a short payoff for a property that it obtained through the borrower’s execution of a grant deed. Under no circumstances should the servicer negotiate the short payoff. Fannie Mae generally will advise the servicer either to accept a Mortgage Release or to initiate foreclosure proceedings.

For more information please see: D1-4.1-04, Transfers of Ownership by Grant Deed

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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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