Servicing Guide

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.

How should rents collected under the assignment of rents provision be applied when the mortgage loan is in foreclosure?

The following table provides the servicer with instructions when the mortgage loan is in foreclosure and the servicer is already collecting rental income. 

The servicer must…
 

Hold any rental income it receives as unapplied funds until the mortgage loan is liquidated.

 

Keep a record of rental income collections and disbursements so that they can be considered when the final claim under the MI or guaranty is filed.

 

Remit Fannie Mae's share of the rental income to Fannie Mae or deduct it from the amount due to reimburse the servicer for any advances it made.

For more information please see: E-3.2-11: Collecting Under an Assignment of Rents 

 

Related Articles

What must be considered when determining whether or not the servicer should pursue collections under the assignment of rents provision?

The servicer must determine whether it is appropriate to pursue collections under the assignment of rents provision, taking into consideration mortgage...

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.