Servicing Guide

Published November 10, 2020

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What are the servicer general responsibilities when there is a mortgage loan involved in a Chapter 11 bankruptcy?

When servicing a mortgage loan involved in a Chapter 11 bankruptcy, the servicer must complete the actions described in the following table. 

The servicer must…
 

Refer a Chapter 11 case to a law firm within two weeks of the filing of the bankruptcy case and direct the attorney to file a Notice of Appearance.

 

Have the law firm review the proposed reorganization plan and the disclosure statement.

 

Ensure the law firm actively participates in the plan confirmation process and files an objection to any plan that attempts to modify Fannie Mae’s rights under the security instruments, or that is not otherwise in Fannie Mae’s best interest.

For more information please see: E-2.2-02: Managing Chapter 11 Bankruptcies

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Customers Recommend Ask Poli

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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Visit Selling and Servicing Guide Communications and Forms

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