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Servicing

Servicing Guide

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D1-1-02, Evaluating a First Lien Mortgage Loan for Charge-Off and Release of Lien (09/11/2024)

The servicer must review and submit to Fannie Mae for approval a request for approval to cease collection efforts on a delinquent mortgage loan when the following requirements have been met:

Fannie Mae must determine if a charge-off and release of the related first lien is the most beneficial outcome for the mortgage loan.

The servicer must follow the procedures in F-1-24, Requesting Fannie Mae’s Approval via Fannie Mae’s Servicing Solutions SystemF-1-24, Requesting Fannie Mae’s Approval via Fannie Mae’s Servicing Solutions System  for detailed requirements related to requesting prior approval and, if approved, completing a charge-off/lien release, the Investor Reporting Manual for reporting a charge-off to Fannie Mae, and Reimbursement for Recording Costs Associated with a Mortgage Loan Satisfaction or Charge-Off in F-1-05, Expense ReimbursementF-1-05, Expense Reimbursement .

Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic.

Announcements Issue Date
Announcement SVC-2024-05 September 11, 2024
Announcement SVC-2019-03 May 15, 2019