This topic contains information on handling property forfeitures and seizures.
With respect to property forfeitures and seizures, the servicer must take the actions described in the following table.
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Control and monitor all proceedings and actions related to property forfeitures and seizures. |
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Maintain a detailed record of all contacts, requests, and actions taken with respect to each property. |
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Ensure that all information regarding any forfeiture contacts are kept confidential and limit the number of persons having access to the information. |
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Keep its Fannie Mae Servicing Representative (see F-4-03, List of Contacts) informed about the status of the mortgage loan and the property by reporting, at a minimum, the following items:
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The servicer must follow the procedures in F-1-07, Handling Property Forfeitures and Seizures for responding when contacted in regards to a property forfeiture or seizure depending on the timing of the contact. Also see D1-1-02, Evaluating a First Lien Mortgage Loan for Charge-Off and Release of Lien.