Servicing Guide

Published September 9, 2020

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Which services are part of the maximum allowable foreclosure fee that Fannie Mae will reimburse for judicial foreclosures?

In general, the maximum allowable foreclosure fee for a judicial foreclosure is intended to cover all services that are typically required to be performed by foreclosure counsel in the prosecution of a judicial foreclosure in accordance with local law. The following table lists the services included in the allowable judicial foreclosure fee. 

Judicial Foreclosure Services
A

Ordering title.

B

Reviewing title reports and exceptions.

C

Drafting Complaint, Summons, Lis Pendens, and other papers necessary to initiate the foreclosure action.

D

Filing the foreclosure Complaint and Lis Pendens.

E

Executing all steps necessary to obtain service of process on all defendants, including review of process server affidavits, obtaining court permission to serve by publication, and referral and tracking of published notices.

F

Preparing legal papers for entry of foreclosure judgment, whether by default or through summary judgment process.

G

Obtaining judgment of foreclosure, including one court appearance.

H

Preparing all legal papers to conduct the foreclosure sale.

I

Conducting, or arranging for the sheriff or other third party to conduct, the foreclosure sale.

J

Attending the foreclosure sale, when required.

K

Obtaining judicial confirmation of foreclosure sale, where required by local law.

L

Preparing all legal papers necessary to convey title to Fannie Mae or a successful third-party bidder.

For more information please see: E-5-04, Allowable Foreclosure Fees

 

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