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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The Document Custodian Notice includes the following topics:
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June 7, 2023 – The June Selling Guide update allows temporary interest rate buydowns for mortgages secured by manufactured homes; allows 7- and 10-year ARM borrowers to be qualified using only the note rate; adds clarifying details for amounts that may be included with the payoff of existing loans in limited cash-out refinance transactions; and makes miscellaneous updates. |
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Selling Guide - PDF Version (June 7, 2023) |
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May 31, 2023 – Effective June 12, 2023, the 2023 area median income estimates (AMIs) will be implemented in Desktop Underwriter® (DU®), HomeReady® Application Programming Interfaces (API), Loan Delivery, the Area Median Income Lookup Tool, and published on the HomeReady®, RefiNow®, and Duty to Serve pages. |
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May 24, 2023 - this Notice specifies that we will require appraisal photographs for the main living areas of property interiors to include the living room, family room, dining room, all bedrooms, and all finished and unfinished areas of the basement for appraisals in loan applications dated on or after Sept. 1, 2023. |
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May 17, 2023 – This Lender Letter rescinds the DTI ratio loan-level price adjustment (LLPA) attribute that was scheduled to apply to loans purchased on and after Aug. 1, 2023. |
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May 10, 2023 – The May Servicing Guide update introduces and clarifies requirements for servicing mortgage loans subject to resale restrictions or shared equity provisions; automates the Non-Routine Litigation form and requires electronic submission; and provides an updated agreement for refinancing an eNote in New York.. |
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Servicing Guide - PDF Version (May 10, 2023) |
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May 3, 2023 – The May Selling Guide update revises the requirements for loans with shared equity or shared appreciation provisions; clarifies eligibility requirements for subordinate liens; and allows alternative documentation for IRS Form 4868 as evidence the borrower has filed an extension for the prior year’s tax returns. |
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Selling Guide - PDF Version (May 3, 2023) |
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This Document Custodian Notice includes the following topics: |
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April 12, 2023 – We’ve made miscellaneous Servicing Guide updates related to compliance with requirements and laws; Disaster Response Network™ and Know Your Options™ references; loan property address changes; and certain Fannie Mae contact information. We also posted borrower-facing documents related to our recently updated payment deferral policy. |
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Servicing Guide - PDF Version (April 12, 2023) |
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April 5, 2023 – The April Selling Guide update aligns Guide policy for the treatment of medical collections with the risk assessment performed by Desktop Underwriter®; adds reporting requirements for penalties and enforcement actions related to compliance with Office of Foreign Assets Control regulations; allows the use of a borrower’s earned real estate commission for down payment and closing costs; and makes miscellaneous updates. |
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Selling Guide - PDF Version (April 5, 2023) |
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Updated March 22, 2023 - This updated LLPAs provides information about future changes to loan-level price adjustments (LLPAs) and an overall redesign of the LLPA matrix. It will be effective for all whole loans purchased on or after May 1, 2023, and for loans delivered into MBS with issue dates on or after May 1, 2023, with the exception of the DTI ratio LLPA, which will be effective Aug. 1, 2023. |
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The Document Custodian Notice includes the following topic: |
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March 8, 2023 – The March Servicing Guide update includes changes to pre-foreclosure property preservation requirements – specially, updates to property inspections and preservation expense reimbursement limits and guidance; and miscellaneous updates. |
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Servicing Guide - PDF Version (March 8, 2023) |
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March 8, 2023 - Effective for loans with note dates on or after July 1, 2023, shared equity loans that are secured by properties subject to private transfer fee covenants will now be eligible for sale to Fannie Mae if they meet certain conditions. Loans with private transfer fee covenants are currently prohibited by the Selling Guide, unless permitted by the Private Transfer Fee Regulation. |
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Selling Guide - PDF Version (March 1, 2023) |
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March 1, 2023 – The March Selling Guide update introduces, as part of valuation modernization, our transition to a range of options to establish a property’s market value, with the option matching the risk of the collateral and loan transaction; provides additional guidance on the use of sweat equity and nonprofit program providers; revises timelines and expectations for lenders’ prefunding and post-closing quality control reviews; requires the use of Condo Project Manager™ for projects when a lender Full Review is required; and makes miscellaneous updates. |
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Updated February 15, 2023 - this Lender Letter provides reminders and temporary flexibilities to support mortgage originations. |
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Selling Guide - PDF Version (February 1, 2023) |
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February 1, 2023 - February Selling Guide update:
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