Fannie Mae Servicing Guide E-4.5-03 — Filing MI Claims for FHA Coinsured Mortgage Loans
Fannie Mae Servicing Guide E-4.5-03 — Filing MI Claims for FHA Coinsured Mortgage Loans.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide E-4.5-03 — Filing MI Claims for FHA Coinsured Mortgage Loans — 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 E-4.5-03 — Filing MI Claims for FHA Coinsured Mortgage Loans
E-4.5-03, Filing MI Claims for FHA Coinsured Mortgage Loans (11/12/2014) After the foreclosure sale of an FHA coinsured mortgage loan, FHA expects the servicer to try to sell the property. However, Fannie Mae will assume the responsibility for marketing the property. If the property is not sold within six months after the foreclosure sale, the servicer must notify FHA. Procedures for filing MI claims will vary based on whether Fannie Mae is able to sell the property within the six month time frame allotted by FHA. The servicer must follow the applicable procedure in either Filing a Claim for an Unsold FHA Coinsured Property or Filing a Claim for an FHA Coinsured Property that Fannie Mae Sold, in F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property. As soon as the servicer receives the FHA claim settlement, it must remit the full amount it owes Fannie Mae. If the payment is not sent to Fannie Mae within 15 days after it is received, Fannie Mae may impose a daily interest charge until it receives it. The interest charge will be calculated at the prime rate (as published in The Wall Street Journal’s prime rate index) that was in effect on the first business day of the month in which FHA transferred the funds to the servicer, plus 3%. The servicer must reimburse Fannie Mae for any amount that FHA disallows from the claim because of the servicer’s failure to comply with FHA’s requirements. The following table indicates the breakdown of the amount due to Fannie Mae depending on whether or not the property was sold. If the property... The servicer’s payment to Fannie Mae will represent... was sold and Fannie Mae has the sales proceeds in its possession • the remaining UPB, • debenture and mortgage loan interest included in FHA’s settlement, and • two-thirds of the foreclosure costs. was not sold within the allowable six months resulting in a claim settlement based on the appraised value of the property • the entire amount of the outstanding principal balance, • debenture and mortgage loan interest included in FHA’s settlement, and • two-thirds of the foreclosure costs.
Operationalizing Fannie Mae Servicing Guide E-4.5-03 — Filing MI Claims for FHA Coinsured Mortgage Loans
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/fnma-svc-e-4-5-03/
· register fnma-svc-e-4-5-03 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.