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 actions should be taken after the foreclosure sale of an FHA coinsured mortgage loan?

After the foreclosure sale of an FHA coinsured mortgage loan, FHA expects the servicer to try to sell the property. However, Fannie Mae will assume the responsibility for marketing the property. If the property is not sold within six months after the foreclosure sale, the servicer must notify FHA. Procedures for filing MI claims will vary based on whether Fannie Mae is able to sell the property within the six month time frame allotted by FHA. The servicer must follow the applicable procedure in either Filing a Claim for an Unsold FHA Coinsured Property or Filing a Claim for an FHA Coinsured Property that Fannie Mae Sold, in F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property.

For more information please see: E-4.5-03: Filing MI Claims for FHA Coinsured Mortgage Loans 

 

Related Articles

When should FHA claim settlement funds be remitted to Fannie Mae for FHA coinsured loans?

As soon as the servicer receives the FHA claim settlement, it must remit the full amount it owes Fannie Mae. If the payment is not sent to Fannie Mae...

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How is the amount due to Fannie Mae for an FHA coinsured mortgage loan determined?

The following table indicates the breakdown of the amount due to Fannie Mae depending on whether or not the property was sold.  If the property......

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