Servicing Guide

Published September 9, 2020

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What requirements must be followed when completing a property inspection on a delinquent mortgage loan?

Inspecting a Property Securing a Delinquent Mortgage Loan

The servicer must order the initial property inspection on or after the 60th day of delinquency and complete the property inspection no later than the 75th day of delinquency for all delinquent mortgage loans. The following table outlines the servicer’s responsibilities for initiating and continuing property inspections on a property securing a delinquent mortgage loan.

The servicer must complete...
  A property inspection every calendar month as long as the mortgage loan remains 60 or more days delinquent unless the property is borrower occupied and one of the following has occurred:
  • QRPC has been established within the last 30 days,

  • a full payment has been received within the last 30 days,

  • a repayment plan or a Trial Period Plan has been approved and the borrower is performing the plan, or

  • the borrower is performing under the applicable bankruptcy plan.

  A final property inspection within 35 days prior to the foreclosure sale, or in applicable foreclosure actions where there is no foreclosure sale and title is transferred by court order, the estimated court order docket date (if known). See E-3.3-03, Inspecting Properties Prior to Foreclosure Sale for additional information.

If the servicer has not established QRPC while the mortgage loan remains delinquent, the servicer must continue attempts to achieve QRPC with the borrower, as described in D2-2-01, Achieving Quality Right Party Contact with a Borrower. The servicer of a first lien mortgage loan must continue property inspections every calendar month until the foreclosure sale, the execution of a Mortgage Release, or the mortgage loan becomes current.

Note: Fannie Mae will reimburse the servicer for all property inspections when the mortgage loan is delinquent.

When a property inspection is required every calendar month, the property inspections must occur between 20 and 35 days apart. However, the servicer must complete more frequent property inspections when necessary (for example, when required by local ordinance, in high vandal areas, based on property condition, or during winter months).

For more information see Servicing Guide D2-2-10: Requirements for Performing Property Inspections

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