Servicing Guide

Published June 10, 2020

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

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F-2-01: Bankruptcy Referral and Completion Timelines (11/12/2014)

This exhibit contains bankruptcy referral and completion timelines.

 

Bankruptcy Referral and Completion Timelines

Chapter 7 Bankruptcy
Delinquency Status When to Refer to an Attorney Timeline for Case Completion
Mortgage loan is delinquent, but less than 60 days delinquent when the bankruptcy is filed. May refer for proof of claim preparation if proof of claim is required to be filed. 2 months and 2 weeks from the 60th day of delinquency to case completion.
Mortgage loan is 60 or more days delinquent or in foreclosure when the bankruptcy is filed. Refer no later than two weeks after the bankruptcy is filed. Two months and two weeks from the date of the bankruptcy filing to case completion.
Case completion for a Chapter 7 bankruptcy proceeding is defined as: automatic stay terminated, case dismissed or closed, or the borrower receives a discharge and the trustee abandons all interest in the secured property.
Chapter 11 Bankruptcy
Delinquency Status When to Refer to an Attorney Timeline for Case Completion
Mortgage loan is current or delinquent when bankruptcy is filed. Refer no later than two weeks from the date of the bankruptcy filing. No timeline implemented at this time.
Chapter 12 and 13 Bankruptcy
Delinquency Status When to Refer to an Attorney Timeline for Case Completion
Mortgage loan is delinquent but less than 60 days delinquent when the bankruptcy is filed. May refer for proof of claim preparation and plan review. Five months and two weeks from the 60th day of delinquency.
Mortgage loan is 60 or more days delinquent or in foreclosure when the bankruptcy is filed. Refer no later than two weeks after the bankruptcy is filed. Five months and two weeks from the date of the bankruptcy filing to case completion.
After confirmation of either a Chapter 12 or Chapter 13 plan, the mortgagor becomes 60 days delinquent making payments pursuant to the plan. Refer when the mortgage loan is 60 days delinquent, but no later than 2 weeks from the 60th day of delinquency. Five months and two weeks from the 60th day of delinquency.
Case completion for a Chapter 12 or 13 bankruptcy proceeding is defined as: automatic stay terminated, case dismissed or closed, the trustee abandons all interest in the secured property, or the Chapter 12 or 13 plan is confirmed.

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