The following table outlines the required servicer actions to report a Fannie Mae Mortgage Release to Fannie Mae.
Once the servicer has received all required documentation, including the final interior property inspection report, if applicable, it must report its final acceptance of the Mortgage Release to Fannie Mae through Fannie Mae’s servicing solutions system.
Note: Regardless of the transition option, the servicer must submit the case to Fannie Mae through Fannie Mae’s servicing solutions system to report its final acceptance of the Mortgage Release.
Submit the REOgram, including any applicable lien release documents and contact information for the HOA, to Fannie Mae’s SF CPM division (see F-4-03, List of Contacts) within 24 hours of the date the servicer completes its final acceptance of the executed Mortgage Release. The servicer must report the Fannie Mae’s servicing solutions system closing date as the foreclosure sale date on the REOgram. See Contents of the REOgram in E-4.1-01, Notifying Fannie Mae of an Acquired Property, for the contents of the REOgram.
Note: Also see A1-4.2-01, Compensatory Fees Other Than Delays in the Liquidation Process, for additional information on applicable compensatory fees.
Note: The servicer must submit the case into Fannie Mae’s servicing solutions system, regardless of the transition option chosen, to complete its final acceptance of the Mortgage Release.
Also, the servicer must see the Investor Reporting Manual for detailed requirements on how to report to Fannie Mae’s investor reporting system.
For more information please see Servicing Guide F-1-23: Reporting a Workout Option via Fannie Mae’s Servicing Solutions System.