Is authorized to approve the request to grant the easement on Fannie Mae’s behalf. Will not adversely affect the value of the property securing a mortgage loan If the servicer has determined that granting a burdensome easement. The servicer must evaluate requests for other types of easements based on the specificĬircumstance of the request, as described in the following table. Interfere with any of the improvements or use of the property, and do not present Line if the easements do not extend more than 12 feet from the property line, do not The property lines or easements for drainage purposes that run along the rear property The servicer is authorized to approve any request for a customary public utility easementĪ subsurface utility easement does not extend under the house or other improvementsĪn above-surface utility easement for distribution purposes that runs along any of The manner and extent of the use of the easement. The property with the easement in place and The value of the property without the easement in place compared with the value of The community’s customs, attitudes, and prevalent practices regarding such easements The degree and quantity of rights that are released with the easement Use, value or future marketability of the property securing a mortgage loan, which Request for the Grant of a Burdensome Easement: The servicer must evaluate the request for the granting of a burdensome easement toĭetermine the extent to which granting a burdensome easement adversely affects the Must decline the request to release the easement. To reduce the mortgage loan balance to maintain the LTV ratio immediately prior toĮxpected to adversely affect the future use of marketability of the property securing Is authorized to approve the request to release the easement if the borrower agrees LTV based on the estimated property value after the easement is released is greater LTV based on the estimated property value after the easement is released is less than Will adversely affect the value of the property securing a mortgage loan, and the Is authorized to approve the request to release the easement on Fannie Mae’s behalf. The borrower’s use of the property securing a mortgage loan Will not adversely affect the value of the property securing a mortgage loan or restrict If the servicer has determined that releasing a beneficial easement. The following table describes the servicer's action based upon the impact to the property The servicer must assess the effect a release of the easement may have on the use The value of the property with the easement in place compared with the value of the The convenience, access, or other benefits provided by the easement, which will be Securing a mortgage loan by considering the following: Request for the Release of a Beneficial Easement: The servicer must evaluate the request for the release of a beneficial easement toĭetermine whether or not the release will adversely affect the value of the property A complete application must include all information and documentation required That the borrower submits a completed Application for Release of Security ( Form 236). When a borrower requests a release or grant of an easement, the servicer must ensure The evaluation requirements for each of the various types of requests are describedĮvaluating a Request for the Release of a Beneficial Easement or the Grant of a Burdensome The servicer must also follow the processing requirements found in Processing a Request for the Release of Property Securing a Mortgage Loan in F-1-04, Evaluating a Request for the Release, or Partial Release, of Property SecuringĪ Mortgage Loan. Mae’s SF CPM division (see F-4-03, List of Contacts). To escalate a request, the servicer must contact Fannie In this Guide, all requests related to Texas Section 50(a)(6) loans must be escalated to Fannie However, with the exception of eminent domain actions that fall within the policies The servicer must evaluate each request in accordance with this Guide and request Fannie Mae prior approval in circumstances that fall outside of the policies The servicer must counsel the borrower to consider the costsĪnd benefits of any action covered by this policy prior to evaluating a request. An application is considered complete when all required documentation and information,Īs outlined within this Servicing Guide and Form 236, has been obtained. To request a release, or partial release, of property securing a mortgage loan, theīorrower must submit an Application for Release of Security ( Form 236). Partial release of property securing a mortgage loan. This topic provides information related to evaluating a request for the release, or