Servicing Guide

Published July 15, 2020

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What are the Short Sale evaluation requirements if the borrower's debt has been discharged pursuant to Chapter 7 of the U.S. bankruptcy code?

If the borrower’s debt has been discharged pursuant to Chapter 7 of the U.S. bankruptcy code, the servicer must evaluate the borrower for a Fannie Mae short sale without receiving a complete BRP regardless of the delinquency status of the mortgage loan at the time of evaluation. The servicer must obtain proof that the mortgage loan was included in the borrower’s Chapter 7 bankruptcy filing, such as notification from the court or a copy of the order of discharge showing the mortgage loan as discharged.  

For more information see Servicing Guide D2-3.3-01, Fannie Mae Short Sale.

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