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.

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Which foreclosure process should be followed in the instance a state has both non-judicial and judicial foreclosures?

The servicer must proceed non-judicially in jurisdictions where the preferred or routine method of foreclosure is non-judicial, even if doing so means waiving Fannie Mae's right to pursue a deficiency judgment, unless the servicer or the law firm is aware of circumstances that suggest the benefits of proceeding judicially outweigh the increase in time frame, fees, and costs. If the servicer has questions regarding the preservation or waiver of deficiency claims, it must contact Fannie Mae’s SF CPM division (see F-4-03, List of Contacts) for guidance, including direction to proceed judicially on a case-by-case basis.

For more information please see: E-3.3-07: Pursuing a Deficiency Judgment

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