Foreclosure Attorney Fees

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Allowable Foreclosure Attorney Fees Exhibit (09/09/2020)

The following table contains the maximum attorney’s fees that Fannie Mae allows for legal work related to foreclosures for all Fannie Mae mortgage loans. The allowable fee applies for the life of the default and covers all services necessary to complete a routine foreclosure action in the jurisdiction. In the event that a default is cured, such as by a completed loan modification or reinstatement, and the loan subsequently becomes delinquent again, a new allowable fee applies without the need for excess fee approval when the servicer must initiate new foreclosure proceedings.

State
Non-Judicial Foreclosure
Judicial Foreclosure
Alabama $1,7001 On Approval2
Alaska $2,000 On Approval2
Arizona $1,700 On Approval2
Arkansas $1,700 On Approval2
California $1,700 On Approval2
Colorado $2,200 On Approval2
Connecticut N/A $3,2004,5
Delaware N/A $2,450
District of Columbia N/A $2,875
Florida N/A $4,10012
Georgia $1,700 On Approval2
Guam $2,225 On Approval2
Hawaii N/A $9,0008
Idaho $1,550 On Approval2
Illinois N/A $3,000
Indiana N/A $2,800
Iowa $1,275 $2,450
Kansas N/A $2,400
Kentucky N/A $3,000
Louisiana N/A $2,500
Maine N/A $3,9504
Maryland $3,0006 On Approval2
Massachusetts N/A $3,4004
Michigan $1,900 On Approval2
Minnesota $1,775,9 On Approval2
Mississippi $1,5001 On Approval2
Missouri $1,700 On Approval2
Montana $1,800 On Approval2
Nebraska $1,400 On Approval2
Nevada $2,000 On Approval2
New Hampshire $1,725 On Approval2
New Jersey N/A $4,500
New Mexico N/A $4,000
New York $1,45010 $5,2254,10
North Carolina $2,175 On Approval2
North Dakota N/A $2,350
Ohio N/A $3,000
Oklahoma N/A $2,700
Oregon $1,700 $3,700
Pennsylvania N/A $3,200
Puerto Rico N/A $2,8004,11
Rhode Island $2,250 On Approval2
South Carolina N/A $2,850
South Dakota N/A $2,250
Tennessee $1,500 On Approval2
Texas $1,7007 On Approval2
Utah $1,700 On Approval2
Vermont N/A $3,200
Virgin Islands N/A $2,650
Virginia $1,700 On Approval2
Washington $1,800 $3,0502,3
West Virginia $1,4501,6 On Approval2
Wisconsin N/A $2,600
Wyoming $1,550 On Approval2

Footnotes:

1This fee covers the combined attorney’s and notary’s fees.

2Because this is not the preferred method of foreclosure, the servicer must obtain approval of its use from Fannie Mae’s Regional Counsel prior to initiation by submitting the Non-Routine Litigation Form (Form 20). Applicable fees will be authorized through the Excess Fee process.

3In Washington, the $3,050 fee only applies to judicial foreclosure actions involving e-Notes, as Fannie Mae’s prior approval is not required to proceed judicially for e-Note foreclosures. For all other judicial foreclosure actions in Washington, Fannie Mae approval is required (see footnote 2).

4For jurisdictions other than New York, an additional $200 will be permitted when the property is sold to a third party and the attorney must perform additional work to complete the transfer of title to the successful bidder. For New York, the additional fee is $450.

5This fee applies to Strict Foreclosures. If the court orders a Foreclosure by Sale (or a Foreclosure by Market Sale on or after January 1, 2015), the fee will be $3,450.

6This fee includes the attorney’s fee, the notary’s fee and the trustee’s commission (or statutory fee).

7Fannie Mae will not reimburse the servicer for posting costs incurred after September 1, 2015, in connection with Texas foreclosures, as these services are included in the allowable foreclosure attorney fee.

8This fee applies to judicial foreclosures in Honolulu County. The maximum fee for all other counties is $10,000.

9For any case in which the attorney provides services for “proceedings subsequent” (or “PS”) that involve registered land, Fannie Mae will reimburse an additional $700 attorney fee as well as any actual, reasonable and necessary costs associated with the PS action. The Mortgage Default Counsel law firm retained by the servicer must request reimbursement of these PS fees and costs directly from Fannie Mae instead of billing them to the servicer.

10In New York, the non-judicial foreclosure process is to be used only in connection with cooperative share loans. The fee includes all steps in the foreclosure process, including the transfer of the stock and the lease for an occupied cooperative unit.

11In addition to the allowable foreclosure fee, Fannie Mae will pay a notary fee up to the greater of $250 or one percent (1%) of the bid amount on the mortgage being foreclosed.

12The allowable fee for foreclosures in Florida, where judgment is obtained as a result of an uncontested trial, is established at $5,200.

When a servicer requests reimbursement from Fannie Mae for a fee amount based on specified conditions contained in a footnote above, the servicer’s reimbursement request must contain a description or sufficient supporting documentation to allow Fannie Mae to properly evaluate the request.