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B-5-02, Uninsured Loss Events (09/09/2020)

When a natural disaster or other event results in an uninsured loss to the property, the servicer must take the steps listed in the following table.

Step	Servicer Action
1	Determine the damage.
2	If the property is abandoned, secure it in accordance with the requirements for a property in foreclosure in E-3.2-12, Performing Property Preservation During Foreclosure Proceedings E-3.2-12, Performing Property Preservation During Foreclosure Proceedings and the Property Preservation Matrix and Reference Guide.
3	Develop plans to repair the property.
4	Assist the borrower in filing for any disaster relief that may be available in accordance with D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower.
5	Evaluate the borrower for a workout option in accordance with Chapter D2-3, Fannie Mae’s Home Retention and Liquidation Workout Options D2-3, Fannie Mae’s Home Retention and Liquidation Workout Options, if applicable.