Announcement SEL-2024-03: Selling Guide Updates

In May, the Selling Guide has been updated to introduce a definition for a first-generation homebuyer loan, added requirements for a borrower-initiated appeals process for appraisals, clarified when an Affidavit of Affixture is required for manufactured housing loans, expanded our shared equity policies related to manufactured housing in community land trust properties, allow sellers/servicers to designate MERS as the nominee for the beneficiary in the security instrument for co-op share loans, updated requirements for submission of financial statements and reports, added details to supplement previously issued policy requirements pertaining to trust income, and other miscellaneous updates.