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 2012 to present. 

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March 10, 2021 - this Lender Letter updates our policies to require that any loan secured by a second home or investment property be delivered as a Desktop Underwriter® (DU®) loan with an Approve/Eligible recommendation (with one exception).

March 10, 2021 - the March Servicing Guide update adjusts servicer requirements for charge-off property valuation requests; incorporates a procedural change for requesting reimbursement of recording costs for mortgage loan satisfactions; clarifies the approval process to pay third parties out of insurance loss proceeds; and makes other miscellaneous updates.

Selling Guide - PDF Version (March 3, 2021)

March 3, 2021 - March's Selling Guide update revises power of attorney eligibility and documentation requirements, removes references to the Servicing Execution Tool™ ahead of the transition to Servicing Marketplace®, updates the list of risk factors evaluated by Desktop Underwriter® , and aligns the definition of planned unit development across the Guide.

February 17, 2021 - this Lender Letter updates the MassHousing Mortgage Insurance Fund’s Loan Loss Reserve Agreement, Commitment/Certificate, and Mortgage Payment Protection Endorsement Forms as well as the list of Approved Mortgage Insurance Forms.

The Document Custodian Notice includes the following topics:

  • Updated Fannie Mae Quality Control (QC) Template and Supplement
  • Update of the Active Document Custodians list for 2021

Selling Guide - PDF Version (February 3, 2021)

February 3, 2021 - February's Selling Guide update simplifies the verification requirements related to seasonal and secondary income, updates the seller/servicer post-purchase adjustment (PPA) process to require the use of the PPA form, and removes references to lenders authorizing release of MI data to us.

February 3, 2021 - this Lender Letter provides advance notice that we will cease purchasing Constant Maturity Treasury (CMT)-indexed ARMs later this year. While the CMT index is not going away, we will no longer acquire loans based on this index.

January 20, 2021 - the January Servicing Guide update incorporates LL-2020-13, which extended automatic reclassification triggers from four to 24 months for most delinquent MBS mortgage loans; eliminates the requirement for reporting a delinquency status code for a disaster payment deferral if the mortgage loan is brought current; and updates our policies on remote online notarizations for the purpose of servicing or modifying a mortgage loan. 

Servicing Guide - PDF Version (January 20, 2021)

The Document Custodian Notice includes the following topics:

  • Updated Annual Statement of Eligibility for Document Custodians (Form 2001)
  • Annual review of Fannie Mae Active Document Custodians

January 6, 2021 – This Lender Letter reiterates lenders’ responsibilities for appraisal review and for compliance with Appraiser Independence Requirements; provides examples of appraisal findings and defects; suggests best practices for lenders’ appraisal-related underwriting and quality control processes; and points out resources to help lenders manage appraisal risk efficiently and effectively.

Provides a summary of Selling Guide, Servicing Guide and other policy related communications & updates issued in 2020.

Selling Guide - PDF Version (December 16, 2020)

December 16, 2020 - December's Selling Guide update expands eligibility to allow the sale of loans secured by single-width manufactured homes; updates requirements related to the use of retirement, government annuity, and pension income; modifies our seller/servicer eligibility standards related to minimum liquidity; updates our sale of personal assets documentation requirements; simplifies our eligibility requirements for community land trusts; removes earthquake insurance requirements in Puerto Rico and Guam; clarifies how lenders may use pro-rated tax credits toward closing; and more.

December 16, 2020 - At the direction of the Federal Housing Finance Agency (FHFA) and in collaboration with Freddie Mac, we are modifying our seller/servicer eligibility standards related to minimum liquidity. We’re no longer permitting nondepositories to use unused, undesignated, and available portions of credit lines, including those for servicing advances, as acceptable forms of liquidity.

December 10, 2020 - this Lender Letter provides temporary flexibilities to our appraisal requirements.

December 10, 2020 - this Lender Letter provides reminders and temporary flexibilities to support mortgage originations.

December 9, 2020 - The December Servicing Guide update removes the property-level earthquake insurance requirement on mortgage loans on all Puerto Rico properties, and on Guam properties constructed of masonry. It also incorporates the payment deferral policy communicated in LL-2020-05, the incentive fees for retention workout options as outlined in LL-2020-09, and updates to accurately reflect the guaranty fee and guaranty fee buydown charges drafting schedule.

Servicing Guide - PDF Version (December 9, 2020)

Updated December 9, 2020 - this Lender Letter communicates temporary policies to enable servicers to better assist borrowers impacted by COVID-19. It contains policies related to forbearance plan eligibility, post-forbearance loan modifications, suspension of credit bureau reporting for some borrowers, and suspension of foreclosure sales.

November 24, 2020 - Loan limits in 2021 are increasing. The new loan limit for most of the country will be $548,250 — a 7.42% increase over the 2020 limit — and is effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2021.

The Document Custodian Notice includes the following topics:

  • Update of the Active Document Custodians list for 2020
  • Update to the Document Certification User Guide for NDC 1.28 release
  • Reminder of Eligibility Criteria for Document Custodians

Updated November 18, 2020 - this Lender Letter provides a new workout solution to help borrowers impacted by a COVID-19 hardship return their mortgage to current status after up to 12 months of missed payments.