The servicer must ask the law firm to confirm that the security instrument includes an assignment of rents provision when it refers a bankruptcy case that involves an investment property. If an assignment of rents provision is included, the servicer must ensure the law firm files a Motion for Sequestration of Rental Income to prohibit the borrower from using any rental income without the bankruptcy court’s permission.
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.Download PDF
Hint: Ask in a form of a question.
- Doing Business with Fannie Mae
- Escrow, Taxes, Assessments, and Insurance
- Mortgage Loan Payment Processing, Remitting, Accounting, and Reporting
- Providing Solutions to a Borrower
- Default-Related Legal Services, Bankruptcy, Foreclosure Proceedings, and Acquired Properties
- Servicing Guide Procedures, Exhibits, Quick Reference Materials, and Change Control Log