Servicing Guide

Published June 10, 2020

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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How is an unearned premium refund calculated once the servicer request reimbursement for a flood insurance premium that they previously advanced for an acquired property?

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.

For more information please see: E-4.4-04: Remitting Flood Insurance Settlement Proceeds or Unearned Premium Refunds

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