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.

What are Fannie Mae general requirements for eliminations and rescissions of foreclosure sales?

This topic contains Fannie Mae’s requirements for eliminations and rescissions of foreclosure sales. “Elimination” is the process of removing a property from Fannie Mae’s REO inventory system of record. “Foreclosure Sale Rescission” is the legal process of reversing a foreclosure sale and removing Fannie Mae as titleholder to the property. There are circumstances in which a foreclosure sale rescission may not involve elimination. However, if an REOgram has been submitted with an associated foreclosure sale, an elimination will also be necessary. 

When the servicer identifies an issue that requires an elimination and/or rescission of the foreclosure sale, the servicer must submit a request for elimination and/or rescission within five days. 

To submit a request for elimination and/or rescission, the servicer must complete and submit the Elimination/Rescission Request Template. 

When Fannie Mae identifies an issue that requires a property to be eliminated from its REO inventory or a foreclosure sale to be rescinded, Fannie Mae will initiate the elimination and/or rescission process. 

For more information please see: E-4.1-02: Eliminations and Rescissions of Foreclosure Sales 

 

Related Articles

What actions must the servicer take once they have accessed the eliminations/rescissions daily report?

The servicer must access the Eliminations/Rescissions Daily Report on Fannie Mae Connect. The servicer must complete the actions listed in the following...

Read more

In what instances will Fannie Mae charge the servicer a compensatory fee for foreclosure rescissions?

Fannie Mae may assess the servicer a compensatory fee for any failure to follow Fannie Mae guidelines or other servicing error or alleged error that...

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.