Servicing Guide

Published September 9, 2020

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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 

 

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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.

Guide Resources

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