Servicing Guide

Published September 9, 2020

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Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual June 12, 2019 (Table of Contents)

Table of Contents

Preface

Chapter 1, Reverse Mortgage Loan Products. 9

  • 1-01, Home Keeper Mortgage Loans (05/28/2014) 9
  • 1-02, Home Equity Conversion Mortgage Loans (05/28/2014) 11

Chapter 2, Doing Reverse Mortgage Loan Business with Fannie Mae. 12

  • 2-01, Mortgage Loan Files and Records (05/28/2014) 12
  • 2-02, Servicing Fees Related to Reverse Mortgage Loans (05/28/2014) 12
  • 2-03, Property Insurance Policy and Coverage Requirements (09/14/2016) 12
  • 2-04, Lender-Placed Insurance Requirements (10/14/2015) 14
  • 2-05, Establishing Custodial Bank Accounts (06/13/2018) 15
  • 2-06, Submitting Expense Reimbursement Claims (04/11/2018) 17
  • 2-07, Post-Delivery Transfers of Servicing (05/28/2014) 18

Chapter 3, General Servicing Requirements. 19

  • 3-01, Disbursing Payments to Borrowers (05/28/2014) 19
  • 3-02, Adjusting the Interest Rate (05/28/2014) 22
  • 3-03, Changes to Borrower’s Payment Plan (05/28/2014) 24
  • 3-04, Payment of Taxes and Insurance (04/11/2018) 28
  • 3-05, Managing Partial Repayments or Payments in Full (05/28/2014) 33
  • 3-06, Providing Account Statements to the Borrower (05/28/2014) 34
  • 3-07, Annual Occupancy Certification Requirements (05/28/2014) 36
  • 3-08, Property Inspection Requirements (05/28/2014) 37
  • 3-09, Requirements upon Completion of Property Repairs (05/28/2014) 37
  • 3-10, Home Equity Conversion Mortgage Loan-Specific Requirements for the Assignment of the Mortgage Loan to HUD (04/11/2018) 39
  •     3-11, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan (06/12/2019)

Chapter 4, Assisting Borrowers at Risk of Default or in Default 40

  • 4-01, Effect of Bankruptcy Filing (05/28/2014) 40
  • 4-02, Acceleration of the Debt (04/11/2018) 41
  • 4-03, Curing the Default (04/11/2018) 43
  • 4-04, Acceptance of the Deed-in-Lieu (12/12/2018) 44
  • 4-05, Initiation of Foreclosure Proceedings (04/11/2018) 45
  • 4-06, Determination of Payoff Proceeds Due From Borrower-Specific to Home Keeper Mortgage Loans (05/28/2014) 47
  • 4-07, Determination of Payoff Proceeds Due From Borrower-Specific to Home Equity Conversion Mortgage Loans (05/28/2014) 48

Chapter 5, Processing Claims and Managing Acquired Properties. 51

  • 5-01, Submitting the REOgram (12/12/2018) 51
  • 5-02, Home Equity Conversion Mortgage Loan-Specific Mortgage Insurance Claim Requirements (04/11/2018) 53
  • 5-03, Acquired Properties (05/28/2014) 53
  • 5-04, Property Management (09/18/2018) 54
  • 5-05, Submitting Special Remittances (04/11/2018) 56

Chapter 6, Reporting through eBoutique. 59

  • 6-01, Reporting Specific Transactions to Fannie Mae. 59
  • 6-01-01, Reporting Specific Transactions (03/25/2015) 59
  • 6-01-02, Payment Change Transactions (05/28/2014) 61
  • 6-01-03, General Servicing Transactions (12/12/2018) 63
  • 6-01-04, Servicing Transfer Transactions (05/28/2014) 70
  • 6-01-05, Trial Balance Transactions (04/11/2018) 70
  • 6-02, eBoutique Reports. 75
  • 6-02-01, Fannie Mae-Generated Reports (05/28/2014) 75

Chapter 7, Quick Reference Materials. 79

  • 7-01, Glossary (04/11/2018) 79
  • 7-02, Table of Abbreviations and Acronyms (04/11/2018) 82
  • 7-03, List of Contacts (06/13/2018) 83

 

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