Have Servicing Questions? Ask Poli


Fannie Mae customers! Get answers to your Servicing Guide & policy questions with Fannie Mae's AI-powered search tool.

Launch Ask Poli for Servicers  

Guide Resources

Access forms, announcements, lender letters, notices, and more to stay current on our servicing policies.

View Resources  

E-4.4-04: Remitting Flood Insurance Settlement Proceeds or Unearned Premium Refunds (06/13/2018)

When the servicer receives flood insurance settlement proceeds, it must remit them to Fannie Mae as a "special remittance." A list of special remittance codes and their uses can be found in Fannie Mae's  CRS User Guide. When the servicer receives an unearned premium refund, it may either remit the refund to Fannie Mae as a special remittance or, if the servicer has outstanding foreclosure expenses that Fannie Mae has not reimbursed, the servicer may "net" it out of the next request for expense reimbursement submitted for the mortgage loan.

If, for any reason, the flood insurance carrier refuses to refund the unearned premium to the servicer, the servicer must include a comment to that effect when it submits its final request for expense reimbursement.

When the servicer requests reimbursement of a flood insurance premium it has advanced for an acquired property, Fannie Mae will calculate the amount of unearned premium refund that should be due. Fannie Mae will consider its calculated unearned premium refund amount as an unremitted refund that is still due if

  • the servicer's final request for expense reimbursement does not reflect the unearned premium refund as a credit, or

  • the servicer does not explain why the insurance carrier has not sent the servicer the unearned premium refund.

Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic.  

Announcements Issue Date
Announcement SVC-2018-04 June 13, 2018

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing

Try Ask Poli

Related Articles


Customers Recommend Ask Poli

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

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

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.