Servicing Guide

Published September 9, 2020

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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 will accept conveyance of the property.

The following table outlines the required servicer actions when the foreclosure is conducted in Fannie Mae's name and the mortgage insurer or guarantor indicates it will accept conveyance of the property. 

If the servicer... Then the servicer must...

has Fannie Mae's LPOA to execute conveyance documents

prepare, execute, and submit for recordation a special or limited warranty deed conveying title to the property to the insurer or guarantor.

does not have Fannie Mae's LPOA or is otherwise unable to convey the title directly to the insurer or guarantor

prepare the necessary documents to convey the property to the insurer or guarantor and submit them to Fannie Mae's CPM division (see F-4-03, List of Contacts) for execution. This must be completed at least two weeks before title to the property will be turned over to the insurer or guarantor. Fannie Mae will return the documents to the servicer as soon as they are executed.

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

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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