Summary

The new Property Preservation matrix has a few changes and new additions to better enable the servicer to maintain the condition and appearance of the property with fewer bid requests.  Changes in the matrix include:

• grass recut prices increased from $50
• defined allowable of $300 to install a sump pump
• new allowables to cap water and gas lines, and exposed wires
• new allowable to clean refrigerators

Fannie Mae removed the allowable for servicers to complete debris removal at a property.  The guidelines state that debris left behind could be considered personal property, therefore debris should not be removed prior to foreclosure proceedings.
 
The Fannie Mae Request for Repair form 1095 has been updated to allow for easier submission of bids to Fannie Mae.  The form is more easily modified by the servicer and no longer has limitations of the number of bids that can be submitted.  The form is formatted for easier use in Microsoft Excel.
 
-----Original Message-----
From: Property Preservation [ mailto:property_preservation@fanniemae.com]
Sent: Wednesday, February 11, 2009 7:57 AM
Subject: Concerning the updated Fannie Mae Property Preservation Matrix

To all Servicers and Servicer representatives,

NEW! The updated Fannie Mae Property Preservation Matrix is now available at efanniemae.com and will become effective for all Preservation performed on or after March 1, 2009.

Requests are not required for these pre-approved amounts. If the cost of the preservation work exceeds pre-approved amounts, the Fannie Mae Request Repair Form (form 1095) should be completed and submitted via email as an attachment to property_preservation@fanniemae.com along with photo documentation.

https://www.efanniemae.com/sf/guides/ssg/relatedservicinginfo/pdf/ppmatrix.pdf

https://www.efanniemae.com/sf/formsdocs/forms/1095.jsp

Thank you,

Fannie Mae, Property & Cost Management  

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 500 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.