Servicing Guide

Published November 10, 2020

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What requirements must the servicer follow as it relates to the payment of the borrower’s relocation incentive payment for a Fannie Mae short sale transaction?

The servicer must...
 

Instruct the closing law firm or settlement agent to disburse the amount of the relocation incentive payment provided by Fannie Mae to the borrower at closing from the short sale proceeds, if applicable.

Note: The servicer must not pay relocation assistance provided by any source other than Fannie Mae from the short sale proceeds.

 

Not attempt to renegotiate the relocation incentive payment amount to a lesser amount.

 

Not require the borrower to apply the relocation incentive payment to obtain the release of other liens or non-real estate title impediments.

For more information please see: D2-3.3-01, Fannie Mae Short Sale.

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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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