Servicing Guide

Published June 12, 2019

F-5-01: Servicing Guide Change Control Log (06/12/2019)

This topic summarizes the updates made to the Servicing Guide during the current calendar year.

Change Control Log

The following table provides a description of the updates.

Announcement Topic Description
SVC-2019-04, Servicing Guide Updates (06/12/2019) Updates to Release of Property Requirements Clarify and simplify the policy by improving servicer comprehension, eliminating complexity, minimizing the need to escalate for Fannie Mae approval, and providing clearer valuation and documentation requirements.

Impacted topics:

Impacted Form:

  • Application for Release of Security (Form 236)

Impacted Manual:

SVC-2019-03, Servicing Guide Updates (05/15/2019) MI Termination Solicitations Clarifies when a servicer is authorized to solicit for MI termination.

Impacted topic:

Document Custodian Updates Removes all references to Fannie Mae’s designated document custodian (DDC) from the Selling and Servicing Guides and updates related processes to reflect the use of a Fannie Mae-approved custodian.

Various topics impacted in Parts A, C, E, and F.

Eliminations and Rescissions of Foreclosure Sales Process Update Updates the Guide to reference the new Eliminations/Rescission Daily Report on Fannie Mae Connect.

Impacted topics:

Impacted template:
Reimbursement of Recording Costs in Connection with Charge-Offs Clarifies that Fannie Mae will reimburse the servicer for the cost to record a release of lien required in connection with a mortgage loan charge-off.

Impacted topics:

SVC-2019-02, Servicing Guide Updates (04/10/2019) Updates to Disbursing Insurance Loss Proceeds Incorporated the requirements in LL-2017-09R into the Servicing Guide for any insured loss event regardless of cause.

Impacted topic:

Evaluating Property Damage After a Disaster Event for Current Mortgage Loans Updates existing policy to provide servicers with more flexibility for evaluating property damage after a disaster if the mortgage loan is current at the time of the disaster event and remains current following the disaster event.

Impacted topic:

Impacted Matrix:

Allowable Foreclosure Fees for Washington, New Hampshire and Maine and Fee Proration Related to Milestone Billing Updates the allowable foreclosure attorney fees in three states and clarifies the requirements for prorated fees.

Impacted topics:

Impacted Exhibit:

Consolidation of MERS Policy Consolidates shared selling and servicing policy related to the use of MERS into the Selling Guide.

Impacted topic:

Foreclosure Sale Date Clarifications Clarifies timing requirements for foreclosure actions resolved by court order without a foreclosure sale in applicable jurisdictions.

Various topics impacted in Parts D - F.

SVC-2019-01, Servicing Guide Updates (02/13/2019) Foreclosure Time Frame and Compensatory Fee Update Update existing foreclosure timeline management and compensatory fee framework.

Impacted topics: