Servicing Guide

Published October 14, 2020

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Foreclosure Sale Marketing and Auction Services Exhibit (05/15/2019)

Fannie Mae has engaged Auction.com and Altisource, through its auction platform Hubzu, (the “Vendors”) to provide foreclosure sale marketing and foreclosure auction services in certain jurisdictions.  This document sets forth Fannie Mae’s requirements for the use of the Vendors for such services for properties securing first lien conventional mortgage loans.  The servicer also remains responsible for following the Fannie Mae Servicing Guide requirements for managing foreclosures.  

The servicer must use a Fannie Mae Vendor in applicable jurisdictions for foreclosure sale marketing services.  Foreclosure sale marketing services include all of the marketing and advertising of the scheduled foreclosure sale, including through online, print media, and direct mail advertisements.  The following table identifies the jurisdictions in which the Vendors provide foreclosure sale marketing services.

Vendor

Jurisdiction

Hubzu

Hawaii

Indiana

Iowa

South Carolina

Auction.com

Alaska

Pennsylvania

Colorado

New Hampshire

Connecticut[1]

New Mexico

Delaware

North Dakota

Kansas

South Dakota

Kentucky

Utah

Louisiana

Vermont

Maine

Washington D.C.

Maryland

West Virginia

Massachusetts

Wisconsin

Michigan

Rhode Island

Minnesota

Wyoming

Oklahoma

Puerto Rico

 

The servicer must provide the following information to the Fannie Mae vendor when placing an order for foreclosure sale marketing services:

  • Servicer loan number
  • Fannie Mae loan number
  • Property Address
  • Property State
  • Borrower Name
  • File referred to foreclosure date
  • Foreclosure sale scheduled date
  • Bid received date
  • Foreclosure sale modified date (if applicable)
  • Insurer
  • Investor
  • Investor Code
  • Client investor name
  • Attorney Name
  • Lien Position
  • Loan Type
  • Current Loan Amount
  • Total debt amount based on foreclosure
  • Hold Description (i.e. litigation, bankruptcy, reinstatement)

Auction.com is also available to provide foreclosure auction services in the jurisdictions set forth in the following table.  The use of a vendor for foreclosure action services is optional and in the discretion of the Mortgage Default Counsel law firm retained by the servicer.  Foreclosure auction services include conducting the public foreclosure sale.

Jurisdiction

Alabama

Illinois

North Carolina

Arizona

Mississippi

Ohio

Arkansas

Missouri

Oregon

California

Montana

Tennessee

Colorado

Nebraska

Texas

Florida

Nevada

Virginia

Georgia

New Jersey

Washington

Idaho

New York

 

Contact information for the Vendors is included below.

Vendor Contact Information

Auction.com

Phone : (949) 699-4263

Email : FCLinquiries@auction.com

Hubzu

Phone : (877) 839-7117

Email : ForeclosureAuctions@hubzu.com

 

 

 

 

 

 

[1]Requirements to use a vendor do not apply to Strict Foreclosure actions in Connecticut.

 

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