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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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 within 15 days after it is received, Fannie Mae may impose a daily interest charge until it receives it.

The interest charge will be calculated at the prime rate (as published in The Wall Street Journal’s prime rate index) that was in effect on the first business day of the month in which FHA transferred the funds to the servicer, plus 3%.

The servicer must reimburse Fannie Mae for any amount that FHA disallows from the claim because of the servicer’s failure to comply with FHA’s requirements.

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

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