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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What are the servicer responsibilities when handling a conveyance to the Insurer or Guarantor?

Custody of the property must be turned over to FHA, VA, or the mortgage insurer as soon as possible after their requirements for conveying properties have been met. (Also see Selling Guide A3-2-01, Compliance with Laws.) When FHA or the VA does not accept a property that the servicer conveys, the servicer must determine why the property was reconveyed to Fannie Mae. If FHA's or VA's reasons for not accepting the property can still be resolved, the servicer must take any action required to correct the matter and then reconvey the property to FHA or VA. Failure to do so may result in Fannie Mae electing a repurchase, a make whole payment, or an indemnification payment (see A1-3-02, Fannie Mae-Initiated Repurchases, Indemnifications, Make Whole Payment Requests and Deferred Payment Obligations ). The servicer must address any questions regarding a property that was reconveyed to Fannie Mae’s CPM division (see F-4-03, List of Contacts).

For more information please see: E-4.2-02: Handling Reconveyance to the Insurer or Guarantor

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