Have Servicing Questions? Ask Poli

AskPoli

Fannie Mae customers! Get answers to your Servicing Guide & policy questions with Fannie Mae's AI-powered search tool.

Launch Ask Poli for Servicers  

Guide Resources

Access forms, announcements, lender letters, notices, and more to stay current on our servicing policies.

View Resources  

E-1.2-02: Timing of the Foreclosure Referral for Mortgage Loans Generally (05/10/2023)

For all mortgage loans secured by a principal residence, the servicer must refer the mortgage loan to foreclosure no earlier than the 121st day of delinquency unless applicable law permits earlier referral. If the servicer determines, in accordance with applicable law, that the property securing the mortgage loan is not, or is no longer the borrower’s principal residence, the servicer must refer the mortgage loan to foreclosure prior to the 121st day of delinquency as described below.

Depending on the outcome of the prereferral review for mortgage loans not secured by a principal residence, the mortgage loan must be referred to a law firm for foreclosure no later than the 120th day of delinquency, except in circumstances where the borrower submits a BRP shortly before the foreclosure referral. See E-3.2-01, Conducting Prereferral Review and E-3.2-04, Postponing Foreclosure Referral for Mortgage Loans Not Secured by a Principal Residence for additional information.

Foreclosure is considered to have begun on the date when the servicer refers the matter to a law firm. The servicer must maintain a record of the date of the referral in the mortgage loan file.

Fannie Mae requires the servicer to contact its Fannie Mae Servicing Representative (see F-4-02, List of Contacts) if it becomes aware of environmental hazards that affect the security property. Regardless of whether Fannie Mae is named as a party in any environmental litigation, it must be considered non-routine and the servicer must immediately notify Fannie Mae’s Legal department by submitting a Non-Routine Litigation Form (Form 20). See also E-1.3-02, Reporting Non-Routine Litigation to Fannie Mae for additional information. The servicer must follow the procedures in Reporting Environmental Hazards to Fannie Mae in F-1-08, Managing Foreclosure Proceedings, for instructions specifically related to reporting environmental issues to Fannie Mae. See the Property Preservation Matrix and Reference Guide for additional information.


Recent Related Announcements

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

Announcements Issue Date
Announcement SVC-2023-03 May 10, 2023

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.