Servicing Guide

Published November 10, 2020

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Are there any instances in which the servicer must adjust the amount of Fannie Mae's incentive payment after completing a Mortgage Release?

The servicer must adjust the amount of Fannie Mae’s relocation assistance in accordance with the following table.

If... Then the servicer must...
the servicer elects to provide an additional incentive payment from its own funds not deduct that amount from Fannie Mae’s incentive payment amount.
another source provides assistance deduct that amount from Fannie Mae’s incentive payment amount.
the property inspection report indicates that the subject property is vacant, but that there is damage to the subject property caused by the borrower or that the subject property was not left in broom swept condition reduce Fannie Mae’s incentive payment by the estimate or actual, if known, cost of remediating the issues.

For more information please see: D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure)

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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.

Guide Resources

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