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 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... The servicer’s payment to Fannie Mae will represent...

was sold and Fannie Mae has the sales proceeds in its possession

  • the remaining UPB,

  • debenture and mortgage loan interest included in FHA’s settlement, and

  • two-thirds of the foreclosure costs.

was not sold within the allowable six months resulting in a claim settlement based on the appraised value of the property

  • the entire amount of the outstanding principal balance,

  • debenture and mortgage loan interest included in FHA’s settlement, and

  • two-thirds of the foreclosure costs.

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

 

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