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F-1-10, Obtaining and Executing Legal Documents (05/15/2019)

Introduction
This Servicing Guide Procedure contains the following:

Submitting a Request to the Document Custodian

The servicer must provide the law firm with either a copy or the original note at the time of referral, in accordance with E-1.1-02, Required Referral DocumentsE-1.1-02, Required Referral Documents. The servicer must send a Request for Release/Return of Documents (Form 2009) to the document custodian to obtain the proper documents.

The servicer must return the loan file to the custodian when it is no longer needed.


Submitting a Document Execution Request

As required in A2-1-04, Execution of Legal DocumentsA2-1-04, Execution of Legal Documents, the servicer must submit a document execution request, as described in the following table.

The servicer must...
 

Send an email to the SF CPM Servicing Documents mailbox at [email protected] and include the following:

  • Fannie Mae loan number or indicate that a mortgage loan number is not available because the mortgage loan was conveyed to Fannie Mae in error,

  • the reason for the request, and

  • attached executable document(s) requiring Fannie Mae signature.

 

Include a return shipping label.

When resubmitting (due to an incomplete initial package), be sure to include all documents, including ones previously sent to avoid processing delays.

For additional contact information when an original document must be executed, see Fannie Mae Contacts for Document Execution Requests.


Requesting a Limited Power of Attorney

In accordance with Fannie Mae’s Limited Power of Attorney to Execute Documents in A2-1-04, Execution of Legal DocumentsA2-1-04, Execution of Legal Documents, the servicer must have an LPOA in order to execute certain documents on behalf of Fannie Mae.

To request an LPOA, the servicer must perform the steps in the following table.

Step Servicer Action
1

Prepare and execute a separate LPOA form (see below) for each jurisdiction in which it is servicing mortgage loans on behalf of Fannie Mae.

When preparing the form, the servicer is authorized to

  • reformat the document to make it recordable in specific jurisdictions,

  • change the notary acknowledgment, and

  • make other minor wording changes.

2

Attach the document(s) to a cover letter that

  • states the jurisdiction(s) that the LPOA will cover,

  • explains any changes made to the document(s), and

  • provides any special instructions necessary to make the document(s) recordable in a specific jurisdiction.

3

Send the request package to the appropriate address in accordance with Fannie Mae Contacts for Document Execution Requests.

4 Have the executed LPOA from Fannie Mae recorded in the proper jurisdiction.

Note: The servicer is authorized to submit the LPOA for recordation immediately upon its receipt or wait until such time as it is actually needed to process a covered transaction.

5 Maintain the final recorded LPOA.

Note: Unless Fannie Mae requests it, the servicer must not submit the original recorded LPOA (or a copy) to Fannie Mae.

The servicer must use the following form to execute an LPOA. The servicer must not amend the list of transactions for which the document will be used.

Limited Power of Attorney

Fannie Mae, a corporation organized and existing under the laws of the United States of America, having an office for the conduct of business at 5600 Granite Parkway VII, Plano, TX 75024, constitutes and appoints ______________________________, a _______________________ organized and existing under the laws of _________________, its true and lawful Attorney-in-Fact, and in its name, place and stead and for its use and benefits, to execute, endorse, and acknowledge all documents customarily and reasonably necessary and appropriate for:

  • the release of a borrower from personal liability under the mortgage or deed of trust following an approved transfer of ownership of the security property;

  • the full satisfaction or release of a mortgage or the request to a trustee for a full reconveyance of a deed of trust;

  • the partial release or discharge of a mortgage or the request to a trustee for a partial reconveyance or discharge of a deed of trust;

  • the modification or extension of a mortgage or deed of trust;

  • the subordination of the lien of a mortgage or deed of trust;

  • the completion, termination, cancellation, or rescission of foreclosure relating to a mortgage or deed of trust, including (but not limited to) the following actions:

  • the appointment of a successor or substitute trustee under a deed of trust, in accordance with state law and the deed of trust;

  • the issuance of a statement of breach or nonperformance;

  • the issuance or cancellation or rescission of notices of default;

  • the cancellation or rescission of notices of sale; and

  • the issuance of such other documents as may be necessary under the terms of the mortgage, deed of trust, or state law to expeditiously complete said transactions, including, but not limited to, assignments or endorsements of mortgage loans, deeds of trust, or promissory notes to convey title from Fannie Mae to the Attorney-in-Fact under this Limited Power of Attorney;

  • the conveyance of properties to the Federal Housing Administration (FHA), the Department of Housing and Urban Development (HUD), the Department of Veterans Affairs (VA), Rural Development (RD), or a state or private mortgage insurer; and

  • the assignment or endorsement of mortgage loans, deeds of trust, or promissory notes to the Federal Housing Administration (FHA), the Department of Housing and Urban Development (HUD), the Department of Veterans Affairs (VA), Rural Development (RD), a state or private mortgage insurer, or Mortgage Electronic Registration System (MERS®).

The undersigned gives to said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every act and thing requisite, necessary, and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully, to all intents and purposes, as the undersigned might or could do, and hereby does ratify and confirm all that said Attorney-in-Fact shall lawfully do or cause to be done by authority hereof.

Third parties without actual notice may rely upon the power granted under this Limited Power of Attorney, upon the exercise of such power by the Attorney-in-Fact, that all conditions precedent to such exercise of power have been satisfied and that this Limited Power of Attorney has not been revoked unless an instrument of revocation has been recorded.

IN WITNESS WHEREOF, I have hereunto set my hand this ______ day of __________, ________.

FANNIE MAE

 

 

 

 

By: __________________________,

Assistant Vice President

 

 

 

 

By: __________________________,

Assistant Vice President

 

STATE OF TEXAS}

COUNTY OF COLLIN}

 

 

The foregoing instrument was acknowledged before me, a notary public commissioned in Collin County, Texas this _______ day of _____________, by ________________, Assistant Vice President, and by ___________________, Assistant Vice President, of Fannie Mae, a United States Corporation, on behalf of the corporation.

 

 

______________________________, Notary Public

 

My commission expires: ___________________

 


Preparing a Reconveyance Quitclaim Deed

If the servicer conveys a property to Fannie Mae in error, the servicer must comply with the requirements shown in the following table in preparing the reconveyance quitclaim deed, in accordance with Correcting Conveyances to Fannie Mae in A2-1-04, Execution of Legal DocumentsA2-1-04, Execution of Legal Documents.

The servicer must...
 

Insert the following clause in the body of the quitclaim deed:

“This property was inadvertently conveyed to the Federal National Mortgage Association and the Federal National Mortgage Association did not accept the deed.”

Note: The word “conveyed” must be used in the first clause, as noted above; otherwise, do not use it.

 

Ensure that the grantor’s name in the quitclaim deed matches the grantee’s name in the recorded deed.

 

Ensure that the property address and legal description are included in the quitclaim deed.

 

Ensure that the property address and the legal description match what is in the recorded deed.

 

Provide supporting documentation showing the recorded conveyance to Fannie Mae (i.e., foreclosure deed).

 

Include the address shown in Fannie Mae Contacts for Document Execution Requests.

 

Submit the quitclaim deed for recordation within five business days of receipt of the fully executed quitclaim deed from Fannie Mae.

  Maintain the final recorded quitclaim deed in the individual mortgage loan file.

Note: Unless Fannie Mae requests it, the servicer must not submit the final recorded quitclaim deed (or a copy) to Fannie Mae.

The following words must not be used in the body of the quitclaim deed as they do not convey ownership from the grantor to the grantee:

  • grants,

  • sold,

  • bargain, or

  • convey.

The following words may be used in the body of the quitclaim deed to convey ownership from the grantor to the grantee:

  • remise,

  • release, or

  • quitclaim.

Note: Fannie Mae will only follow the chain of title or assignment and will only quitclaim to the previous grantor or assignor.


Submitting an Assignment of Mortgage

As required in A2-1-04, Execution of Legal DocumentsA2-1-04, Execution of Legal Documents, when submitting a document execution request for an assignment of mortgage the servicer must comply with the requirements shown in the following table.

The servicer must...
 

Include a copy of the recorded assignment of mortgage to Fannie Mae.

 

Include the property address.

  Send the request package to the appropriate address in accordance with Fannie Mae Contacts for Document Execution Requests.
  Maintain the recorded assignment of mortgage from Fannie Mae to the servicer in the individual mortgage loan file.

Note: Unless Fannie Mae requests it, the servicer must not submit the final recorded assignment of mortgage (or a copy) to Fannie Mae.

See the steps in Submitting a Document Execution Request earlier in this topic for additional requirements.

Note: Fannie Mae will only follow the chain of title or assignment and will only quitclaim to the previous grantor or assignor.


Fannie Mae Contacts for Document Execution Requests

As required in A2-1-03, Execution of Legal Documents, the servicer must execute certain legal documents during the normal course of servicing mortgage loans for Fannie Mae. The following table describes the different contacts the servicer must use when requesting the execution of documents. If an original document must be executed by Fannie Mae, the servicer must send the document by regular or overnight mail.

Document Ownership Document Execution Submission Without LPOA or Servicer Unable to Execute For Inquiries OR If Required Delivery Method is Email Delivery Address when an Original is Required to be Mailed
SF CPM Division
  • Quitclaim deeds for properties conveyed in error

  • Release of liability

  • Assignments of mortgage

  • Substitution of trustees

  • Conveyance or reconveyances of acquired properties

  • Mortgage Loan Modifications

  • Satisfaction/discharges of paid off mortgage loans

  • Servicer requests for LPOA to execute on Fannie Mae’s behalf

  • All other documents

[email protected]

Fannie Mae

Attn: SF CPM, Documents

5600 Granite Parkway VII Plano, TX 75024

SF CPM, Loss Mitigation Division

Partial Release of Security

partial_releases@ fanniemae.com

Fannie Mae

SF CPM, Loss Mitigation Department

5600 Granite Parkway VII

Plano, TX 75024


Recent Related Announcements

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

Announcements Issue Date
Announcement SVC-2019-03 May 15, 2019
Announcement SVC-2019-02 April 10, 2019