Fannie Mae Servicing Guide B-5-02 — Uninsured Loss Events
Fannie Mae Servicing Guide B-5-02 — Uninsured Loss Events.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide B-5-02 — Uninsured Loss Events — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Servicing Guide B-5-02 — Uninsured Loss Events
B-5-02, Uninsured Loss Events (09/09/2020) When a natural disaster or other event results in an uninsured loss to the property, the servicer must take the steps listed in the following table. Step Servicer Action 1 Determine the damage. Published May 13, 2026 186 Step Servicer Action 2 If the property is abandoned, secure it in accordance with the requirements for a property in foreclosure in E-3.2-12, Performing Property Preservation During Foreclosure Proceedings and the Property Preservation Matrix and Reference Guide. 3 Develop plans to repair the property. 4 Assist the borrower in filing for any disaster relief that may be available in accordance with D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower. 5 Evaluate the borrower for a workout option in accordance with Chapter D2-3, Fannie Mae’s Home Retention and Liquidation Workout Options, if applicable. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SVC-2020-04 September 9, 2020 Chapter B-6, Lender-Placed Insurance Introduction This chapter describes the requirements related to lender-placed insurance.