![]() ![]() Prepare, execute, and submit for recordation a special or limited warranty deed conveying title to the property to the insurer or guarantor.ĭoes not have Fannie Mae's LPOA or is otherwise unable to convey the title directly to the insurer or guarantor Has Fannie Mae's LPOA to execute conveyance documents The following table outlines the required servicer actions when the foreclosure is conducted in Fannie Mae's name and the mortgage insurer or guarantor indicates it will accept conveyance of the property. When the foreclosure is conducted in Fannie Mae's name, no conveyance document is required unless the mortgage insurer or guarantor has indicated it will accept conveyance of the property. When Foreclosure Is Conducted in Fannie Mae's Name See also E-3.1-03, Fannie Mae Address for Instruments of Record The servicer must follow the procedures in F-1-10, Obtaining and Executing Legal Documents. See A2-1-03, Execution of Legal Documents for additional information regarding the execution of legal documents. The servicer must provide all requested additional information within three business days of the request. If Fannie Mae discovers during the marketing of an acquired property that additional information is needed, it will contact the servicer by telephone or email. Retain in its individual mortgage loan file the foreclosure deed and Mortgage Release documents and any and all material that could assist Fannie Mae in marketing, selling, or conveying the property. ![]() Resume managing the eliminated/rescinded file pursuant to the Servicing Guide. Instruct the law firm to include in the conveyance document(s) the Use the type of deed or other transfer instrument that is customarily used to convey a property in the jurisdiction where the security property is located. Note: Fannie Mae will hold the servicer responsible for a failure to obtain good and marketable title in a timely manner (even when the foreclosure sale was held within Fannie Mae's prescribed time frame). ![]()
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