In its Servicing Guide, Fannie Mae has established time frames within which routine foreclosure proceedings are to be completed. This Announcement revises the time frames for four states, based on a review of foreclosure timeline standards. To remediate a specific problem affecting a loan or correct a servicer's overall performance, Fannie Mae reserves the right to impose a compensatory fee as provided in the Servicing Guide, Part I, Section 207: Imposition of Compensatory Fees. Please see announcement SVC-2010-12 for more information.
