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

How should a servicer process a transfer of ownership for an exempt transaction?

The servicer must process any transfer of ownership in accordance with Chapter D1-4, Transfers of Ownership. 
 
The servicer must process the transfer of ownership as described in the following table.  

Type of Transaction Servicer Action

An Exempt Transaction

The servicer must process the transfer of ownership as described in the following table.

If... Then the servicer must...

Fannie Mae is the owner of record for the mortgage loan

  • prepare an assumption and release agreement and either

    • execute the agreement on Fannie Mae’s behalf if it has an assignment of mortgage, or

    • prepare the assignment of mortgage and send it to Fannie Mae’s SF CPM division (see F-4-03, List of Contacts) for execution.

      Note: Once Fannie Mae returns the executed assignment of mortgage to the servicer, the servicer is authorized to execute the assumption agreement and must send a copy of the recorded assumption agreement to its document custodian.

the servicer is the owner of record for the mortgage loan

  • execute the assumption and release agreement, and

  • send a copy of the executed agreement to its document custodian.

For more information please see F-1-18, Processing a Transfer of Ownership.

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.