When a mortgage loan is delinquent including throughout the foreclosure process, the servicer must perform all property maintenance functions as necessary to ensure that the condition and appearance of the property are satisfactorily maintained.
The servicer must manage and protect the property until it is conveyed to the insurer or guarantor, or until Fannie Mae assigns that responsibility elsewhere, including when
a borrower selects an immediate move Mortgage Release and the REOgram is submitted to Fannie Mae, or
a borrower selects the three-month transition or twelve-month lease.
For more information please see: E-3.2-12: Performing Property Preservation During Foreclosure Proceedings