Fannie Mae Selling and Servicing Policy Archives

The Fannie Mae Selling and Servicing policy archives allow you to quickly access current and past policy materials.  

Our archives allow you to search for Selling and Servicing policy communications by year and/or by communication type which include:

  • announcements 
  • guides
  • lender letters
  • notices 

In addition, you can find our In Case You Missed It job aid, which summarizes Selling Guide, Servicing Guide and other policy communications for years 2017 to present. 

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October 20, 2021 - This Lender Letter provides notice of upcoming changes to our requirement for unrecorded assignments of mortgage for loans not registered with Mortgage Electronic Registration System, Inc. (MERS). Instead of this requirement, we are requiring a one-time delivery of limited powers of attorney (Form 520), which sellers/servicers are encouraged to submit now but must complete and deliver by March 1, 2022.

June 9, 2021 - (Republished Oct. 20, 2021) We previously communicated that the Federal Home Loan Bank of San Francisco (FHLBank) announced that it would cease publication of its 11th District Monthly Weighted Average Cost of Funds Index (COFI) after the publication of the Dec. 2021 COFI in Jan. 2022. In anticipation of this date, we are announcing our selection of a replacement index to be used for the servicing of legacy COFI mortgage loans, called the Enterprise 11th District COFI Replacement Index.

Updated October 20, 2021 – This Lender Letter provides information about a new refinance option – RefiNow™ – that will enable more borrowers to refinance to a lower interest rate and reduce their monthly mortgage payment.

Servicing Guide - PDF Version (October 13, 2021)

October 13, 2021 - This Servicing Guide update includes changes that modify the requirements for the reclassification and repurchase of regular servicing option MBS mortgage loans and simplify the submission process for requesting servicing and subservicing transfers.

This Investor Reporting Manual (Manual) outlines Fannie Mae's requirements for the mortgage loan accounting system it uses for reporting on the status of one- to four-unit mortgage loans either held in its portfolio or pooled in an MBS. (The Fannie Mae investor reporting system is also used for multifamily mortgage loans that are in MBS pools). This Manual is incorporated into the Servicing Guide by reference. In the event that the Manual and the Servicing Guide are conflicting, the servicer must follow the requirements set forth in the Servicing Guide.

October 13, 2021 - This Lender Letter specifies temporary requirements that impact the eligibility of certain condo and co-op projects. These requirements relate to significant deferred maintenance and unsafe conditions, special assessments, reserve requirements, project eligibility waivers, and more. Additionally, these requirements are designed to protect borrowers from physically unsafe or financially unstable projects, and to prudently manage risk for Fannie Mae, our lenders, and investors.

This Reverse Mortgage Loan Servicing Manual (Manual) incorporates all Fannie Mae servicing-related guidelines for reverse mortgage loans. While the Manual sets forth specific servicing requirements unique to reverse mortgage loans, servicers must continue to comply with servicing requirements in the Fannie Mae Single-Family Servicing Guide (Servicing Guide) for reverse mortgage loans to the extent such requirements are not in conflict with the provisions contained in the Manual.

October 6, 2021 - This Selling Guide update modifies the permitted homeownership education and counseling providers to allow qualified third parties to administer homeownership education and counseling, no longer requiring the sole use of the Framework® program, when it becomes effective January 2022. Other changes include the removal of constant maturity treasury indexed-ARMs and the replacement of references to the Software Subscription Agreement Master Terms and Conditions with a new Consolidated Technology Licensing Guide.

Selling Guide - PDF Version (October 6, 2021)

Mortgage Insurance Claims Portal (MICP) is a component of the Decision Ready Solutions (DRS) platform. MICP allows mortgage insurers, servicers and Fannie Mae to communicate in real time, at the loan level, regarding mortgage insurance claim issues. 

This quick guide is intended to answer common questions that lenders and correspondents may have as the Phase 1 edits transition from a severity of “warning” to “fatal” on July 31,2021.

Updated Sept. 29, 2021 - This Lender Letter provides advance notice of upcoming changes to our investor reporting processes and systems. which will simplify and streamline servicer reporting.

We previously announced the introduction of the MI Claims Portal (MICP) and the associated MI Claims Portal Participants Exhibit, which lists the mortgage insurers that are participating in MICP. The Participants Exhibit has been updated to include two additional mortgage insurers and their applicable MICP participation effective date.

We are also clarifying that the Oct. 1, 2021 effective date for the policy change is based on the liquidation date of the mortgage loan, as reflected in both the Servicing Guide and the Participants Exhibit, and not the date on which the MI claim was filed.

Provides a summary of Selling Guide, Servicing Guide, and other policy related communications & updates issued in 2021.

The Document Custodian Notice includes the following topics:

  • Notification of Fannie Mae’s Concurrent Sale of Servicing Delivery Instructions to Sellers and Servicers 

Servicing Guide - PDF Version (September 8, 2021)

September 8, 2021 - This Servicing Guide update aligns the Servicing Guide with changes related to Form 582 recently announced in SEL-2021-08, adds duties and responsibilities for all servicers with a portfolio of 20,000 or more Fannie Mae mortgage loans, and removes the requirement to conduct the final interior property inspection for a Mortgage Release™.

September 1, 2021 – This Selling Guide update allows lenders to use positive rent payment history in Desktop Underwriter ® (DU®) to help increase homeownership opportunities for certain first-time homebuyers, updates the credit score used by DU in the eligibility assessment when there are multiple borrowers, incorporates qualified mortgage policies addressed in LL-2021-11, revises Form 582 submission requirements, updates co-op document requirements, and more.

Selling Guide - PDF Version (September 1, 2021)

Fannie Mae recognizes that in several states the sheriff’s office performs some or all of the tasks associated with advertising, scheduling, and conducting the foreclosure sale. Foreclosure attorneys are required to work with the sheriffs in these states in order to complete the foreclosure sale.

August 11, 2021 - This Servicing Announcement incorporates previously communicated changes regarding payment deferral gross servicing fee and guarantee fee reimbursement, and foreclosure P&I advance reimbursement. It also extends the mandatory effective date of the IRS reporting changes that were previously announced.

Updated August 11, 2021 - this Lender Letter provides reminders and temporary flexibilities to support mortgage originations.

August 4, 2021 – This Selling Guide update includes these changes: reduces asset documentation requirements for refinanced transactions, clarifies when an appraisal update or new appraisal is needed, updates the MBS trade confirmation process, and provides other miscellaneous updates. The announcement also describes updates made to all uniform legal instruments to enhance clarity and usability.

Selling Guide - PDF Version (August 4, 2021)