Fannie Mae 1093 PDF Details

In the complex landscape of property management, especially concerning acquired properties needing repair or maintenance, the Fannie Mae 1093 form emerges as a critical document. It is designed to streamline the process whereby brokers or agents are authorized to carry out necessary work on properties and seek reimbursement for these expenses. The form acts as a formal request from the agent or broker to the servicer, outlining the need for reimbursement for maintenance or repair work performed. It necessitates meticulous documentation, including the acquisition of original and additional copies for record-keeping, adherence to specific printing instructions to ensure uniformity, and a detailed procedure for submission that includes photographs, invoices, and lien releases to validate the work done. The form's structured approach to authorization, completion verification, and payment ensures clarity and accountability in the management of property repairs, highlighting its importance in maintaining the integrity and value of real estate assets. The Fannie Mae 1093 form, therefore, not only facilitates operational efficiency but also upholds a standard of care and compliance in the real estate industry.

QuestionAnswer
Form NameFannie Mae 1093
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesfannie mae hourly calculation worksheet, fannie mae 1093, generic income calculation worksheet, verification of benefits form fnma

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Instructions

Maintenance and Repair Work Authorization

We use this form to authorize brokers or agents to perform certain repair or maintenance work for an acquired property. The broker or agent uses this form to request a servicer to reimburse it for expenses incurred for the maintenance or repair work.

Copies

Original, plus three.

Printing Instructions

This form must be printed on letter size paper, using portrait format. When printing this form, you must use the "shrink to fit" option in the Adobe Acrobat print dialogue box.

Instructions

When we authorize a broker or agent to incur expenses related to repair or maintenance work, we send the broker or agent an original and one copy of this form.

When the work is completed, the broker or agent must inspect it, take photographs, obtain appropriate invoices, and obtain any needed lien releases. Once the broker or agent is satisfied with the completed work, he or she should sign the certification and submit the original and one copy of Form 1093 to the servicer indicated at the top of the form--along with the photographs, invoices, and lien releases.

The servicer should pay all invoices that are attached to an original Form 1093, as long as they have been authorized by us and certified by the broker or agent. The servicer may request our verbal authorization if it believes that the broker or agent should be reimbursed before all supporting documentation is available.

To obtain reimbursement for expenses paid to brokers or agents, the servicer should submit a Cash Disbursement Request (Form 571) to us. The servicer should retain a copy of Form 1093--along with its supporting documentation--for its records.

Instructions Page

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