FNMA Servicing Guide E-3 — Managing Foreclosure Proceedings

fnma-svc-e-3

Servicing Guide Chapter E-3 governs the servicer's foreclosure proceedings including pre-foreclosure workout-option due diligence and 15-day pre-referral review.

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source:
  type: regulation
  id: fnma-svc-e-3
  authority: FNMA Servicing Guide E-3 — Managing Foreclosure Proceedings
  description: |
    Servicing Guide Chapter E-3 governs the servicer's foreclosure proceedings including pre-foreclosure workout-option due diligence and 15-day pre-referral review.
obligations:
  - id: fnma-svc-e-3-pre-foreclosure-workout-diligence
    canonical_id: fnma-svc-e-3-pre-foreclosure-workout-diligence
    section: FNMA Servicing Guide E-3.1-02 — Performing Due Diligence Prior to Considering Foreclosure
    description: |
      [LENDER], as servicer of a portfolio mortgage loan, a participation
      pool mortgage loan that Fannie Mae holds in its portfolio, or a special
      servicing option MBS loan, must protect Fannie Mae's investment by
      making every reasonable effort to cure the delinquency through Fannie
      Mae's various workout options before referring a mortgage loan for
      foreclosure proceedings.
    type: do
    audit_question: For every Fannie Mae portfolio / participation pool / special-servicing-option MBS mortgage loan referred to foreclosure, can [LENDER] evidence every reasonable effort was made to cure the delinquency through Fannie Mae's available workout options prior to the foreclosure referral?
    program_review: Does the program ensure every reasonable effort to cure via FNMA workout options is made before referring a portfolio / participation-pool / special-servicing-option MBS loan to foreclosure?
    file_review: For foreclosure-referred loans, review the file/notes; the compliance person judges whether every reasonable workout effort preceded referral.
    judgment: true
    feeds:
      - fnma-svc-e-3-15-day-prereferral-review
    workflow_phase: servicing
    owner_role: foreclosure_specialist
    secondary_owner_role: loss_mitigation_specialist
    cadence: per-default-event
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fnma
      - servicing-guide
      - foreclosure
      - pre-referral-diligence
      - promoted
    primary_source:
      tier: 1
      authority: FNMA Servicing Guide E-3.1-02
      source_class: fnma-guide
      source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
      snapshot_id: cf63a82bbb4adfba
      fetched_at: '2026-05-22T23:53:19Z'
      content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
      paragraph_quote: portfolio, or of a special servicing option MBS loan, must protect Fannie Mae’s investment by making every
      drafter_attestation: |
        Copied verbatim from FNMA Servicing Guide snapshot cf63a82bbb4adfba (chapter E-3) at 2026-05-22.
    promoted_at: '2026-05-23T00:25:13+00:00'
    promoted_from: fnma-svc-e-3-roundb-v1.yaml
  - id: fnma-svc-e-3-15-day-prereferral-review
    canonical_id: fnma-svc-e-3-15-day-prereferral-review
    section: FNMA Servicing Guide E-3.2-01 — Conducting Prereferral Review
    description: |
      [LENDER] must perform a prereferral review of the mortgage loan within
      15 days prior to the date [LENDER] is required to refer the mortgage
      loan to foreclosure. Before the review, the breach or acceleration
      letter and the Borrower Solicitation Package deadline must have
      expired without affirmative response from the borrower.
    type: do
    audit_question: For every Fannie Mae mortgage loan referred to foreclosure, can [LENDER] evidence a prereferral review completed within 15 days prior to the required referral date, with documentation that the breach/acceleration letter and the Borrower Solicitation Package deadline both expired without affirmative borrower response?
    program_review: Does the program ensure a prereferral review within 15 days before the required referral date, after the breach/acceleration letter and Borrower Solicitation Package deadline have expired without affirmative borrower response?
    file_review: For referred loans, confirm a prereferral review within 15 days of the required referral date with documentation that the breach/acceleration letter and Borrower Solicitation Package deadline expired without affirmative response.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: foreclosure_specialist
    secondary_owner_role: default_servicing_analyst
    cadence: per-default-event
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fnma
      - servicing-guide
      - foreclosure
      - prereferral-review
      - 15-day
      - promoted
    primary_source:
      tier: 1
      authority: FNMA Servicing Guide E-3.2-01
      source_class: fnma-guide
      source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
      snapshot_id: cf63a82bbb4adfba
      fetched_at: '2026-05-22T23:53:19Z'
      content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
      paragraph_quote: The servicer must perform a prereferral review of the mortgage loan within 15 days prior to the date the
      drafter_attestation: |
        Copied verbatim from FNMA Servicing Guide snapshot cf63a82bbb4adfba (chapter E-3) at 2026-05-22.
    promoted_at: '2026-05-23T00:25:13+00:00'
    promoted_from: fnma-svc-e-3-roundb-v1.yaml
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  - promoted_at: '2026-05-23T00:25:13+00:00'
    candidate_path: C:\Users\earlc\broker-tools\obligations\_remediation\_round_b_drafts\fnma-svc-e-3-roundb-v1.yaml
    candidates_promoted: 2
    candidates_skipped_existing: 0

Verbatim regulatory text (2)

Verbatim provisions from FNMA Servicing Guide E-3 — Managing Foreclosure Proceedings — 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.

FNMA Servicing Guide E-3.1-02 — Performing Due Diligence Prior to Considering Foreclosure

portfolio, or of a special servicing option MBS loan, must protect Fannie Mae’s investment by making every

Source: FNMA Servicing Guide E-3.1-02 · source URL · snapshot cf63a82bbb4adfba

FNMA Servicing Guide E-3.2-01 — Conducting Prereferral Review

The servicer must perform a prereferral review of the mortgage loan within 15 days prior to the date the

Source: FNMA Servicing Guide E-3.2-01 · source URL · snapshot cf63a82bbb4adfba