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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When does the servicer need to submit an REOgram to Fannie Mae after a foreclosure sale or Mortgage Release?

Within 24 hours after the date of a foreclosure sale or the servicer accepts the executed Mortgage Release, the servicer must send an REOgram to Fannie Mae for the following mortgage loans:

  • all conventional mortgage loans; and

  • any special servicing option RD mortgage loans, even though Fannie Mae may not gain clear title to the property until after expiration of any redemption period.

Note:In applicable jurisdictions, when the foreclosure is completed through a process under which title vests in Fannie Mae (or the servicer in appropriate cases) by operation of court order and there is no foreclosure sale, the servicer must send the REOgram within 24 hours of when the court’s order is entered on the docket.

Fannie Mae may charge the servicer a compensatory fee for each day it is late in submitting the REOgram unless it determines there is a reasonable explanation for the delay as described in A1-4.2-02, Compensatory Fees for Delays in the Liquidation Process . Fannie Mae also may exercise any other available and appropriate remedies for late submissions.

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

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