Servicing Guide

Published June 10, 2020

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

View All Servicing Policy Updates

Download PDF

Hint: Ask in a form of a question.

For best results, pose your search like a question.

What are the requirements for processing pre-petition and post-petition payments for a Chapter 13 Bankruptcy?

The servicer must monitor and separately account for all pre-petition and post-petition payments. If the payments are sent to the trustee, the servicer must access the trustee’s website or contact the trustee’s office to verify the receipt of specific payments. The following table outlines the specific information the servicer must maintain related to any payments it receives during the confirmation process. 

Details to be noted with the receipt of all payments pre-confirmation
 

Type of payment (pre-petition or post-petition).

 

Amount received.

 

Date received.

 

Source of the payment.

 

Allocation of the payment (principal, interest, late charges, etc.).

Unless the court requires the payments to be applied under the terms of the repayment plan, the servicer should generally hold any pre-petition payments it receives as “unapplied” funds until an amount equal to the contractual monthly or biweekly payment due is available for application.

During the confirmation process, the servicer must satisfy Fannie Mae’s standard remittance requirements for the remittance type of the mortgage loan, advancing funds when required for scheduled interest and scheduled principal, if applicable. See E-2.1-11, Remitting P&I for MBS Mortgage Loans That Are Part of a Bankruptcy and C-3-01, Responsibilities Related to Remitting P&I Funds to Fannie Mae for additional information. In addition, the servicer must comply with all policies and procedures in Fannie Mae’s Investor Reporting Manual.

For more information please see: E-2.2-04: Managing Chapter 13 Bankruptcies

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles

E-2.2-04: Managing Chapter 13 Bankruptcies (11/12/2014)

This topic contains the following: General Servicer Responsibilities  Processing Pre-Petition and Post-Petition Payments  Servicing the Mortgage...

Read more

When servicing a Chapter 13 bankruptcy, when is it required to ensure the attorney files an Objection to the Confirmation and/or a motion to dismiss the case?

If the terms of the Chapter 13 plan are unacceptable, and the borrower is not willing to amend the plan to adequately address the unacceptable provisions,...

Read more

What are the required timelines for completing a Chapter 13 bankruptcy?

The timelines for completing a Chapter 13 bankruptcy are described in the following table If the mortgage loan... Then the time frame for completing a...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.