Fannie Mae Selling and Servicing Policy Archives

Servicing Guide - PDF Version (May 10, 2017)

Selling Guide - PDF Version (April 25, 2017)

April 25, 2017 - The following updates were made in April new solutions for borrowers with student loan debt; project review waivers for certain Fannie Mae to Fannie Mae limited cash-out refinances; simplification of some cash-out refinance policies; and more.

April 12, 2017 - This update simplifies our requirements, manages risk, and responds to industry feedback. Updates include revisions to Servicing Guide B-5-01 and Form 176; instruction to servicers who engage with third-party vendors; clarification to the maximum allowable foreclosure attorney fees; and inclusion of clearboarding in property preservation descriptions and expenses.

Servicing Guide - PDF Version (April 12, 2017)

March 28, 2017 - The following updates were made in March lenders may obtain a verification report for use with the Desktop Underwriter (DU) validation service from a report supplier or a report distributor; loans with a Collateral Underwriter risk score of 2.5 or below on the appraisal are eligible for certainty on appraised value regardless of whether the loan was underwritten through DU.

Selling Guide - PDF Version (March 28, 2017)

February 28, 2017 - The following updates were made in February to simplify and clarify policies borrower-signed Form 4506-T not required if all of their income is validated through the Desktop Underwriter (DU) validation service; updates the definitions of homeownership education and housing counseling; and standardizes the calculations for monthly qualifying rental income or loss.

Selling Guide - PDF Version (February 28, 2017)

February 15, 2017 - This update makes changes to simplify servicing, reduce operational cost and risk for servicers, and increase data accuracy. Updates include relieving servicers of the responsibility to pay for HOA, condo, or co-op fees for acquired properties; elimination of transaction type 80 reporting requirements; flexible use of IRS form 4506-T or 4506T-EZ for workout options; and changes to maintaining sellerservicer eligibility.

Servicing Guide - PDF Version (February 15, 2017)

January 31, 2017 - The following updates were made in January clarifications and updates to several appraisal policies; updates to confidentiality of information and data breach guidelines; changes to sellerservicer financial eligibility requirements; removal of duplicative content in the Selling Guide and Servicing Guide; and other miscellaneous updates.

Selling Guide - PDF Version (January 31, 2017)

January 18, 2017 - This update contains policy changes related to updates to the Investor Reporting requirements, retirement of the Fannie Mae Non-Eligible List, and a miscellaneous revision.

Servicing Guide - PDF Version (January 18, 2017)

January 4, 2017 - Fannie Mae has approved the acquisition of United Guaranty Corporation, including mortgage insurers United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company, by Arch Capital Group, Ltd.

December 14, 2016 - This update contains policy changes related to verifying master project insurance, maximum allowable foreclosure attorney fees for judicial states, and servicing fees for redeemable mortgage loans and third-party foreclosure sales.

Servicing Guide - PDF Version (December 14, 2016)

December 13, 2016 - Fannie Mae is introducing a new mortgage loan modification jointly developed with Freddie Mac at the direction of the Federal Housing Finance Agency.

Selling Guide - PDF Version (December 6, 2016)

December 6, 2016 - The following updates were made in December; asset and employment validation offered through the Desktop Underwriter (DU) validation service starting on December 10, 2016, introduces freedom from reps and warrants on property value for loans with a Collateral Underwriter risk score of 2.5 or lower effective December 10, 2016, removes the Property Inspection Waiver fee for loans delivered to Fannie Mae on or after January 1, 2017. The fee for the DU Refi Plus Property Fieldwork Waiver is also discontinued for loans delivered on or after January 1, 2017, clarifies when lenders must update appraisers of changes to a sales contract, and and other miscellaneous updates.

November 23, 2016 - Information on the 2017 general and high-cost area loan limits and updated resources are available. The loan limits increase for the first time since 2006.

November 9, 2016 - This update contains policy changes related to deadlines to submit requests for expense reimbursement, defined expense limits, servicing transfers, clarifications related to mortgage loan modifications, and a miscellaneous revision.

Servicing Guide - PDF Version (November 9, 2016)

October 24, 2016 - The following updates were made in October; introduced the new optional DU validation service for income; made property inspection waivers available for eligible refinance transactions; enhanced the HomeReady affordable product; removed the project review requirements for certain detached condos; improved liquidity options through Fannie Majors and MBS pooling parameters requirements; and other miscellaneous updates.