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.

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What are the next steps that should be taken once a final determination has been made to initiate foreclosure for a second lien mortgage loan in default?

Once a final determination has been made to initiate foreclosure for a second lien mortgage loan, the servicer’s next actions will depend on whether both the first and second lien mortgage loans are in default and whether Fannie Mae has an interest in only one mortgage loan or both the first and second lien mortgage loans.

For more information please see: E-3.2-03: Initiating Foreclosure Proceedings on a Second Lien Conventional Mortgage Loan 

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