source:
  type: guide
  id: fnma-svc-e-4.4-04
  authority: Fannie Mae Servicing Guide E-4.4-04 — Remitting Flood Insurance Settlement
    Proceeds or Unearned Premium Refunds
  description: Fannie Mae Servicing Guide E-4.4-04 — Remitting Flood Insurance Settlement
    Proceeds or Unearned Premium Refunds.
  coverage_tier: operative
obligations:
- id: fnma-svc-e-4.4-04-full
  canonical_id: fnma-svc-e-4.4-04-full
  section: Fannie Mae Servicing Guide E-4.4-04 — Remitting Flood Insurance Settlement
    Proceeds or Unearned Premium Refunds
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide E-4.4-04 — Remitting Flood Insurance Settlement
      Proceeds or Unearned Premium Refunds
    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-4.4-04, Remitting Flood Insurance Settlement Proceeds or Unearned
      Premium Refunds (06/13/2018) When the servicer receives ﬂood insurance settlement
      proceeds, it must remit them to Fannie Mae as a "special remittance." A list
      of special remittance codes and their uses can be found in Fannie Mae''s CRS
      User Guide. When the servicer receives an unearned premium refund, it may either
      remit the refund to Fannie Mae as a special remittance or, if the servicer has
      outstanding foreclosure expenses that Fannie Mae has not reimbursed, the servicer
      may "net" it out of the next request for expense reimbursement submitted for
      the mortgage loan. If, for any reason, the ﬂood insurance carrier refuses to
      refund the unearned premium to the servicer, the servicer must include a comment
      to that eﬀect when it submits its ﬁnal request for expense reimbursement. When
      the servicer requests reimbursement of a ﬂood insurance premium it has advanced
      for an acquired property, Fannie Mae will calculate the amount of unearned premium
      refund that should be due. Fannie Mae will consider its calculated unearned
      premium refund amount as an unremitted refund that is still due if the servicer''s
      ﬁnal request for expense reimbursement does not reﬂect the unearned premium
      refund as a credit, or the servicer does not explain why the insurance carrier
      has not sent the servicer the unearned premium refund. Recent Related Announcements
      There are no recently issued Announcements related to this topic. Section E-4.5,
      Filing MI Claims for Liquidated Properties Published May 13, 2026 498 E-4.5-01,
      Filing MI Claims for Conventional Mortgage Loans or for Other Mortgage Loans
      for which Fannie Mae Bears the Risk of Loss (07/09/2025) Introduction This topic
      contains the following: Overview MI Claims Filed by Fannie Mae MI Claims Filed
      by the Servicer Overview This topic describes the process for ﬁling MI claims
      for the following mortgage loans: conventional ﬁrst lien mortgage loans insured
      by mortgage insurers not participating in the MI Direct® MI claims process,
      and mortgage loans that are not conventional ﬁrst lien mortgage loans for which
      Fannie Mae bears the risk of loss. Prior to ﬁling an MI claim for such mortgage
      loans, the servicer must review the MI Claims Portal Participants Exhibit to
      determine if the mortgage insurer is participating in the MICP; and if so, identify
      the date on which the mortgage insurer’s MICP participation is eﬀective (based
      on the liquidation date of the mortgage loan). If… Then the servicer must… the
      mortgage loan is insured by a mortgage insurer participating in MICP and its
      liquidation date is on or after the mortgage insurer’s applicable MICP participation
      eﬀective date follow the requirements in MI Claims Filed by Fannie Mae. the
      mortgage insurer is not an MICP participant, or if the mortgage insurer is an
      MICP participant but the liquidation date of the mortgage loan is before the
      mortgage insurer’s applicable MICP participation eﬀective date follow the requirements
      in MI Claims Filed by Servicers. The servicer must provide to Fannie Mae or
      the mortgage insurer, as applicable, all information and data necessary to timely
      and accurately ﬁle the MI claim, including loan liquidation and MI coverage
      information as required in C-4.3-01, Servicer Responsibilities Related to Investor
      Reporting and E-4.1-01, Notifying Fannie Mae of an Acquired Property. Once the
      MI claim is ﬁled, whether by the servicer or Fannie Mae, the servicer has diﬀerent
      responsibilities depending on how the property was liquidated. The servicer
      must follow the procedures in F-1-06, Filing an MI Claim for a Liquidated Mortgage
      Loan or Acquired Property. Published May 13, 2026 499 MI Claims Filed by Fannie
      Mae Fannie Mae will ﬁle all related primary MI claims for applicable liquidated
      mortgage loans when the mortgage loan is insured by an MICP participant, and
      has a liquidation date on or after the mortgage insurer’s applicable MICP participation
      eﬀective date. The following table describes the servicer’s responsibilities
      related to MI claims for these mortgage loans. ✓ The servicer must...… Monitor
      Fannie Mae systems, including MICP, to ensure such systems accurately reﬂect
      the identity of the mortgage insurer, the required claim ﬁling deadline, and
      other information necessary to allow Fannie Mae to ﬁle a timely MI claim. Inform
      Fannie Mae if MICP does not contain accurate information. Upload to MICP all
      claim documents required by the MI master policy, and any subsequent or supplemental
      documents requested by the mortgage insurer or Fannie Mae, within the timeframes
      required by the MI master policy, the mortgage insurer, or Fannie Mae. See F-1-06,
      Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property for additional
      requirements. Generally, after completing its reporting responsibilities and
      all other responsibilities described herein, the servicer is not required to
      take further action unless it is contacted by Fannie Mae, Fannie Mae’s eviction
      attorney, or the mortgage insurer to provide additional information or documentation.
      If the servicer fails to provide requested information or documentation, it
      must indemnify and hold Fannie Mae harmless against all Fannie Mae losses caused
      by its inaction, in accordance with A1-3-02, Fannie Mae-Initiated Repurchases,
      Indemniﬁcations, Make Whole Payment Requests and Deferred Payment Obligations
      and Selling Guide, A2-1-03, Indemniﬁcations for Losses. The servicer must reimburse
      Fannie Mae if: Fannie Mae suﬀers any losses due to the servicer’s failure to
      supply a mortgage insurer or Fannie Mae with timely and accurate documents or
      information, as required or requested by the mortgage insurer or Fannie Mae;
      Fannie Mae’s claim is denied, delayed, or curtailed due to servicer failure
      to timely and accurately report any of the information required in C-4.3-01,
      Servicer Responsibilities Related to Investor Reporting and E-4.1-01, Notifying
      Fannie Mae of an Acquired Property; Fannie Mae suﬀers any loss due to the servicer’s
      failure to timely and accurately submit a request for expense reimbursement
      as required in E-5-01, Requesting Reimbursement for Expenses; expenses in the
      claim are disallowed, curtailed, or delayed under the MI master policy; the
      amount of interest payable is cut oﬀ solely because the servicer did not follow
      Fannie Mae or the mortgage insurer’s required procedures for conveyance; or
      any payments the servicer owes the mortgage insurer (for premiums, surcharges,
      etc.) are netted against the beneﬁts paid to Fannie Mae. Published May 13, 2026
      500 MI Claims Filed by the Servicer The servicer must ﬁle all primary MI claims
      for applicable liquidated mortgage loans if the mortgage insurer is not participating
      in the MICP; or the mortgage insurer is an MICP Participant, but the mortgage
      loan liquidation date is before the mortgage insurer’s applicable MICP participation
      eﬀective date. The MI claim must be ﬁled so that the claims proceeds are sent
      directly to Fannie Mae. The servicer must reimburse Fannie Mae if: Fannie Mae
      suﬀers any losses in connection with any defect in the claim ﬁling process,
      including but not limited to the failure to provide required or requested information
      or the failure to ﬁle a claim in a timely manner; expenses in the claim are
      disallowed, curtailed, or delayed under the MI master policy; the amount of
      interest payable is cut oﬀ solely because the servicer did not follow the Fannie
      Mae or the mortgage insurer’s required procedures for conveyance or claim ﬁling;
      or any payments the servicer owes the mortgage insurer (for premiums, surcharges,
      etc.) are netted against the beneﬁts paid to Fannie Mae. Generally, after completing
      its responsibilities, the servicer is not required to take any further action
      unless it is contacted by Fannie Mae''s eviction attorney, or the mortgage insurer,
      and asked to provide certain information or documentation. If the servicer fails
      to provide any requested information or documentation in a timely manner, it
      must indemnify and hold Fannie Mae harmless against all Fannie Mae losses caused
      by its inaction. The servicer must follow the procedures in Ensuring Timely
      Settlement of the MI Claim for a Conventional Mortgage Loan in F-1-06, Filing
      an MI Claim for a Liquidated Mortgage Loan or Acquired Property. Recent Related
      Announcements The table below provides references to recently issued Announcements
      that are related to this topic. Announcements Issue Date Announcement SVC-2025-04
      July 09, 2025 Announcement SVC-2021-04 July 14, 2021'
  judgment: false
