source:
  type: guide
  id: fnma-svc-e-3.2-12
  authority: Fannie Mae Servicing Guide E-3.2-12 — Performing Property Preservation
    During Foreclosure Proceedings
  description: Fannie Mae Servicing Guide E-3.2-12 — Performing Property Preservation
    During Foreclosure Proceedings.
  coverage_tier: operative
obligations:
- id: fnma-svc-e-3.2-12-full
  canonical_id: fnma-svc-e-3.2-12-full
  section: Fannie Mae Servicing Guide E-3.2-12 — Performing Property Preservation
    During Foreclosure Proceedings
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide E-3.2-12 — Performing Property Preservation
      During Foreclosure Proceedings
    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: E-3.2-12, Performing Property Preservation During Foreclosure
      Proceedings (07/14/2021) Published May 13, 2026 455 When a mortgage loan is
      delinquent including throughout the foreclosure process, the servicer must perform
      all property maintenance functions as necessary to ensure that the condition
      and appearance of the property are satisfactorily maintained. The servicer must
      manage and protect the property until it is conveyed to the insurer or guarantor,
      or until Fannie Mae assigns that responsibility elsewhere, including when a
      borrower selects an immediate move Mortgage Release and the REOgram is conﬁrmed
      to Fannie Mae, or a borrower selects the three-month transition or twelve-month
      lease. The servicer must take whatever action is necessary to protect the value
      of the property in accordance with the Property Preservation Matrix and Reference
      Guide. This includes making sure that no apparent violations of applicable law
      are occurring on the property (such as violations of laws relating to illegal
      narcotics and similar substances) and that the property is protected against
      vandals and the elements. The servicer must refer to the Property Preservation
      Matrix and Reference Guide for all maintenance work when a mortgage loan is
      delinquent and the property is vacant or abandoned. When the cost to complete
      property preservation work will exceed the Fannie Mae allowable, the servicer
      must submit the request via HomeTracker. The servicer must follow the procedures
      in Requesting Fannie Mae Approval for Property Preservation and Maintenance
      in F-1-08, Managing Foreclosure Proceedings, for detailed instructions for submitting
      a request when it does not have access to HomeTracker. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SVC-2021-04 July
      14, 2021
  judgment: false
