E-4.5-02, Filing MI Claims for FHA Mortgage Loans (11/12/2014)

Under FHA regulations, a mortgagee may submit a claim for FHA insurance benefits for a foreclosed single-family mortgage loan on the date that the deed to HUD is filed for record. The servicer must follow the procedures in Filing an MI Claim with FHA in F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired PropertyF-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property.

If specifically directed by FHA, the servicer may submit a claim without conveying title to the property to HUD. If this is the case, the servicer must follow the procedures in Filing an MI Claim for an FHA Mortgage Loan without Conveying Title to HUD in F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired PropertyF-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property.

If the servicer erroneously indicates its name on a claim form for the mortgage loan, FHA will transfer the funds directly to the servicer, rather than to Fannie Mae. When this occurs, the servicer must remit the funds to Fannie Mae immediately. Fannie Mae may impose a daily compensatory fee for delayed remittances of FHA claim settlements that are the result of the servicer's erroneous preparation of the claim form. For additional information see A1-4.2-02, Compensatory Fees for Delays in the Liquidation ProcessA1-4.2-02, Compensatory Fees for Delays in the Liquidation Process.

If a servicer cannot convey title to HUD, submit the required title evidence or fiscal data, or file a supplemental claim within the time frames that FHA allows, it must follow the procedures in Requesting an Extension from FHA for Filing an MI Claim in F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired PropertyF-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property.

When Fannie Mae completes its final claim analysis for an FHA mortgage loan, it will notify the servicer if one of the following applies:

• the servicer owes Fannie Mae any money, or

• the servicer must purchase the property from Fannie Mae as the result of HUD’s refusal to accept conveyance of the property or outright denial of the claim.

Within 30 days after the date of Fannie Mae's notification, the servicer must resolve the issue or send Fannie Mae any money it owes.