Servicing Guide

Published September 9, 2020

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Foreclosure Time Frames and Compensatory Fee Allowable Delays Exhibit (12/19/2018)

Foreclosure Time Frames 

Compensatory Fee Allowable Delays

 

Foreclosure Time Frames

Effective January 1, 2019 the table below specifies Fannie Mae’s maximum number of allowable days between the due date of the last paid installment (LPI) and foreclosure sale date, as referenced in the Fannie Mae Servicing Guide Part E. It includes all applicable time frames based on LPI due dates.

State

Method of Foreclosure*

State Time Frame

State

Method of Foreclosure*

 

State Time Frame

Alabama

Non-Judicial

 420

Nebraska

Non-Judicial

480

Alaska

Non-Judicial

 480

Nevada

Non-Judicial

930

Arizona

Non-Judicial

 450

New Hampshire

Non-Judicial

480

Arkansas

Non-Judicial

 420

New Jersey

Judicial

1,530

California

Non-Judicial

 480

New Mexico

Judicial

930

Colorado

Non-Judicial

 450

New York City

Judicial

2,190

Connecticut

Judicial

 660

New York

Judicial

1,740

Delaware

Judicial

 720

North Carolina

Non-Judicial

420

District of Columbia

Judicial

 1,230

North Dakota

Judicial

630

Florida

Judicial

 810

Ohio

Judicial

510

Georgia

Non-Judicial

 330

Oklahoma

Judicial

570

Guam

Non-Judicial

 500

Oregon

Non-Judicial**

960

Hawaii

Judicial

 900

Pennsylvania

Judicial

690

Idaho

Non-Judicial

 630

Puerto Rico

Judicial

810

Illinois

Judicial

 630

Rhode Island

Non-Judicial

900

Indiana

Judicial

 540

South Carolina

Judicial

570

Iowa

Judicial

 570

South Dakota

Judicial

540

Kansas

Judicial

 450

Tennessee

Non-Judicial

420

Kentucky

Judicial

 570

Texas

Non-Judicial

390

Louisiana

Judicial

 540

Utah

Non-Judicial

540

Maine

Judicial

 1,320

Vermont

Judicial

1,050

Maryland

Non-Judicial

 660

Virgin Islands

Judicial

510

Massachusetts

Non-Judicial

 960

Virginia

Non-Judicial

450

Michigan

Non-Judicial

 390

Washington

Non-Judicial

630

Minnesota

Non-Judicial

 330

West Virginia

Non-Judicial

450

Mississippi

Non-Judicial

 330

Wisconsin

Judicial

540

Missouri

Non-Judicial

 450

Wyoming

Non-Judicial

360

Montana

Non-Judicial

 450

 

 

 

*This methodology is the preferred method of foreclosure for each jurisdiction. Fannie Mae's Regional Counsel must approve the use of a different methodology prior to foreclosure initiation. The servicer or law firm must submit a Non-Routine Litigation Form (Form 20) to request the necessary approval. Fannie Mae will provide procedural instructions and allowable fees if approval is granted.

** Due to certain judicial decisions in Oregon, the servicer and mortgage default counsel in Oregon may, depending on the facts and circumstances of a particular case, decide to proceed with a judicial foreclosure without further approval from Fannie Mae.

 

Compensatory Fee Allowable Delays Exhibit

 

The table below specifies the number of days Fannie Mae will add to the state foreclosure time frame to determine the servicer’s foreclosure time frame performance in accordance with the Fannie Mae Servicing Guide.

 

Allowable Delay

Application of Credits

Bankruptcy – Chapter 7

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Codes 3L and 65), up to a maximum of 80 days for each filing.

Bankruptcy – Chapter 11

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 66), up to a maximum of 125 days for each filing.

Bankruptcy – Chapter 12

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 59), up to a maximum of 125 days for each filing.

Bankruptcy – Chapter 13

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Codes 67 and 69), up to a maximum of 125 days for each filing.

Probate

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 31), up to a maximum of 120 days for the first occurrence.

Military Indulgence

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 32), up to a maximum of 455 days for the first occurrence.

Contested or Litigated Foreclosure

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 33), up to a maximum of 90 days for the first occurrence.

Workout in Review

Loans with LPI on or after 06/01/12:  No credit will be given.

Loans with LPI before 06/01/12: Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code H5), up to a maximum of 60 days for each workout.

Trial Period Plan

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code BF), up to a maximum of 120 days for each workout.

Unemployment Forbearance

Credit will be given for the actual number of days between the begin date and the end date (reported using Delinquency Status Code 09 – Forbearance and Delinquency Reason Code 16 - Unemployment), up to a maximum of 180 days for each workout.

New Jersey Foreclosure Delays

Credit will be given for the actual number of days the loan is reported in a foreclosure status between December 2010 and April 2012 (reported using Delinquency Status Code 43 – Foreclosure), up to a maximum of 180 days total.

 

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