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Fannie Mae Inquiry Process

Per Servicing Announcement, SVC-2011-08, Fannie Mae has organized procedures around borrower inquiries and escalated complaints. Below is an excerpt from the Servicing Announcement, describing that process.

  • Upon receipt from a requestor, the Bank will document the date on which the escalated case was received. Within three business days following receipt, the Bank must acknowledge the inquiry in writing via fax or U.S. mail and provide the requestor and, as applicable, the borrower with:

    • A contact name or department;
    • A case reference name or number;
    • A resolution date, or date by which the Bank will resolve the escalated case, which must be no more than 15 calendar days from the date the inquiry was received; and
    • A toll-free escalation contact phone number at the Bank.

    If the Bank fails to resolve the escalated case by the resolution date, the Bank may extend the resolution date for an additional 15 days; however, under no circumstances may the total time for resolution of an escalated case exceed 30 days.

    Within five business days of identifying the proposed resolution, the Bank must communicate in writing to the requestor and, as applicable, the borrower, the proposed resolution and next steps, if applicable. The Bank will retain in the servicing file the written communication of the proposed resolution and all documentation and information received during the review of the escalated case.

    If the Bank fails to comply with the requirement to resolve the escalated case by the resolution date, the Bank must provide an updated status to the requestor, and as applicable, the borrower, on the resolution dates.

    The Bank will not postpone foreclosure referral as required by Fannie Mae due to the review of an escalated case.

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