Servicing Guide

Published September 9, 2020

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Launch Ask Poli  

Download PDF Guide

You can also download the printable ~800 page PDF, which include links.

Download Now

What are the servicer responsibilities prior to requesting reimbursement for attorney fees and costs from Fannie Mae?

The servicer must instruct the law firm to submit all statements for fees and expenses for default-related legal services directly to the servicer. The following table outlines the responsibilities of the servicer prior to requesting reimbursement from Fannie Mae. 

The servicer must...
 

Review and approve the attorney fees and costs to ensure they comply with Fannie Mae guidelines, including the requirement that all costs be actual, reasonable, and necessary.

 

Ensure the legal services were performed in accordance with applicable law and professional standards of conduct.

 

Ensure fees and costs charged to borrowers are permitted under the terms of the note, security instrument, and applicable laws.

 

Ensure invoices submitted by the law firm describe each expense item in sufficient detail to clearly identify it as being an allowable fee or cost.

Examples of sufficient supporting details include:

  • a servicer’s explanation on a Florida mortgage loan that judgment for foreclosure was obtained as a result of an uncontested trial, or

  • an attorney invoice describing an expense as an attorney fee for a Chapter 13 bankruptcy court notification of default and stay termination.

 

Ensure allowable foreclosure attorney fees are invoiced according to the last milestone completed (see Foreclosure Milestone Invoicing Schedules in E-5-05, Reimbursing Law Firms/Reimbursement of Uncollected Fees, Costs or Advances).

 

Pay the fees and costs and retain paid invoices to substantiate all reimbursement requests.

 

Have appropriate policies, procedures, and controls to ensure compliance with Fannie Mae’s requirements.

For more information please see: E-5-02, Servicer Responsibilities Prior to Requesting Reimbursement of Attorney Fees and Costs

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.