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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How does the servicer remove a special servicing option MBS mortgage loan from an MBS pool after foreclosure?

Unless otherwise directed by Fannie Mae, a special servicing option MBS mortgage loan that has been foreclosed must be removed from the MBS pool no later than the remittance date following the date on which the liquidation action code was reported to Fannie Mae.

If Fannie Mae advises the servicer that the acquired property related to a foreclosed special servicing option MBS mortgage loan remains in the MBS trust after foreclosure, it must be removed from the trust no later than the close of the third calendar year following the calendar year in which the MBS trust acquired the property. See E-3.5-01, Reclassifying or Removing MBS Mortgage Loans Post-Foreclosure for additional information on this topic.

For more information please see: E-4.1-01: Notifying Fannie Mae of an Acquired Property 

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