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 can the servicer convey a property that is secured by an VA mortgage loan?

The servicer must convey a property that secured a VA mortgage loan to the VA when it sends the "notice of election to convey" within 15 days after the foreclosure sale date. The servicer must also send a preliminary billing for VA's "upset price."

For more information please see: E-4.2-01: Completing Conveyance Documents 

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Can the servicer convey insured conventional mortgage loans?

The conventional mortgage insurer decides whether it will accept conveyance of a property that secured a conventional mortgage loan only after the claim...

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When can the servicer convey a property that is secured by an FHA mortgage loan?

The servicer can convey a property that secured an FHA mortgage loan as soon as Fannie Mae has acquired marketable title. The servicer must not convey a...

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What are the required servicing actions for completing conveyance documents?

The following table outlines the required servicer actions for completing conveyance documents.  ✓ The servicer must...   Satisfy the...

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What actions must the servicer take when the foreclosure is conducted in Fannie Mae's name and the mortgage insurer or guarantor indicates it will accept conveyance of the property?

When the foreclosure is conducted in Fannie Mae's name, no conveyance document is required unless the mortgage insurer or guarantor has indicated it...

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What does the servicer need to do to convey the property if the foreclosure sale is conducted in the servicer's name?

If the servicer knows that a property can be conveyed directly to FHA or the VA, and that it is allowed to directly convey the title to them, it must do...

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