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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Servicing Guide - PDF Version (October 14, 2020) |
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October 14, 2020 - this Lender Letter introduces payment deferral, a new home retention workout option that enables servicers to assist eligible borrowers who have resolved a temporary hardship and resumed their monthly contractual payments but cannot afford either a full reinstatement or repayment plan to bring the loan current. |
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October 7, 2020 - October’s Selling Guide update includes changes to remote online notarizations; clarifications to project standards requirements; the removal of validation of employment and income using manual verification reports from the Desktop Underwriter® (DU®) validation service; changes to how variances will reflect HomeReady® eligibility; and updates clarifying cash-out refinance vesting requirements when there are multiple borrowers and that gifts of equity are permitted as down payment or toward closing costs. |
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Selling Guide - PDF Version (October 7, 2020) |
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The Document Custodian Notice includes the following topics:
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September 24, 2020 - this Lender Letter provides information about a new adverse market refinance fee (loan-level price adjustment) that will apply to most refinances. |
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Servicing Guide - PDF Version (September 9, 2020) |
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September 2, 2020 - September’s Selling Guide update includes changes related to accessory dwelling units, the removal of references to refinanced or modified balloon loan policies, and clarifications regarding non-occupant borrowers. |
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Selling Guide - PDF Version (September 2, 2020) |
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August 27, 2020 - this Lender Letter introduces a new retention workout option to assist borrowers with a disaster-related hardship. |
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The Document Custodian Notice includes the following topics: |
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August 5, 2020 - the August Selling Guide update clarifies solar panel policies based on different financing structures, revises the representations and warranties framework for loans in forbearance to align the Guide with LL-2020-06 (Selling Loans in Forbearance Due to COVID-19), and removes references to Master Agreements. |
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Selling Guide - PDF Version (August 5, 2020) |
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July 15, 2020 - July’s Servicing Guide update simplifies our loss draft disbursement policies while balancing risk, revises post-disaster credit reporting requirements, authorizes servicers to not send a payment reminder notice to borrowers in an active forbearance plan, encourages servicers to make borrowers aware of our disaster recovery counseling services, and other miscellaneous updates. |
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Servicing Guide - PDF Version (July 15, 2020) |
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July 15, 2020 - this Lender Letter introduces a new temporary structure for incentive fees for completed repayment plans, payment deferrals/COVID-19 payment deferrals, and Fannie Mae Flex Modifications. |
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July 15, 2020 - this Lender Letter aligns policies with Freddie Mac to limit servicer obligations to advance scheduled monthly payments to four months for scheduled/scheduled (S/S) remittance type mortgage loans and introduces a streamlined operational process that maintains our existing investor reporting requirements. |
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July 1, 2020 - this Lender Letter provides information about the use of the redesigned Form 1003. |
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Servicing Guide - PDF Version (June 10, 2020) |
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June 10, 2020 - the June Servicing Guide update includes changes to the pre-modification housing expense-to-income ratio calculation for imminent default and cash contribution, with updated instructions to servicers regarding escrow shortages that are part of the full monthly contractual payment, and an update to the Mortgage Assistance Application (Form 710). |
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June 3, 2020 - June's Selling Guide update includes changes to lease review requirements, provides additional flexibility to lenders to choose the late charge amount identified in the note, clarifies project standards policies on horizontal property regimes and environmental hazard assessments, clarifies HomeStyle® Energy debt pay-off policies, and other miscellaneous updates. |
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Selling Guide - PDF Version (June 3, 2020) |
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Area Median Income estimates (AMIs) are provided to Fannie Mae by our regulator, the Federal Housing Finance Agency. These AMIs are used in determining borrower eligibility for HomeReady mortgage loans. |
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In Servicing Notice, Advance Notice of Retirement of HomeSaver Solutions Network Workout Functionality (Oct. 30, 2019), we informed servicers that we will retire and transition the mortgage loan workout reporting and related functionality in the HomeSaver Solutions Network (HSSN) to Servicing Management Default Underwriter™ (SMDU), SMDU UI and SMDU Case Management for all workout reporting processes. In response to servicer feedback and as a result of the impact of COVID-19, we are postponing the Dec. 31, 2020 retirement date previously communicated in that Notice. |
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The Document Custodian Notice includes the following topics: |
