Servicing Guide

Published September 9, 2020

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Is there an expiration date for a value used in a liquidation workout?

The servicer must obtain a property valuation for a Short Sale in accordance with Obtaining a Property Valuation in D2-3.3-01, Fannie Mae Short Sale. The servicer must obtain a property valuation for a Mortgage Release or a Mortgage Release transition option  in accordance with Obtaining a Property Valuation and Evaluating the Condition of the Property in D2-3-3.02, Fannie Mae Mortgage Release (Deed in Lieu of Foreclosure).

The property valuation must be dated or have been refreshed by Fannie Mae within 90 calendar days of the servicer approving the  borrower for a Mortgage Release or the Short Sale approval.

For Short Sales see F-1-15: Processing a Fannie Mae Short Sale

For Mortgage Release see F-1-14: Processing a Fannie Mae Mortgage Release (Deed-In-Lieu of Foreclosure).

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

Guide Resources

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