In accordance with Fannie Mae’s Limited Power of Attorney to Execute Documents in A2-1-03, Execution of Legal Documents, the servicer must have an LPOA in order to execute certain documents on behalf of Fannie Mae.
To request an LPOA, the servicer must perform the steps in the following table.
Prepare and execute a separate LPOA form (see below) for each jurisdiction in which it is servicing mortgage loans on behalf of Fannie Mae.
When preparing the form, the servicer is authorized to
Attach the document(s) to a cover letter that
Send the request package to the appropriate address in accordance with Fannie Mae Contacts for Document Execution Requests.
|4||Have the executed LPOA from Fannie Mae recorded in the proper jurisdiction.
Note: The servicer is authorized to submit the LPOA for recordation immediately upon its receipt or wait until such time as it is actually needed to process a covered transaction.
|5||Maintain the final recorded LPOA.
Note: Unless Fannie Mae requests it, the servicer must not submit the original recorded LPOA (or a copy) to Fannie Mae.
For more information please see Servicing Guide F-1-10, Obtaining and Executing Legal Documents.