Fannie Mae Selling and Servicing Policy Archives

Selling Guide - PDF Version (August 25, 2015)

August 12, 2015 - This update contains policy changes related to an extension to the date by which the servicer must receive an executed Form 720, updated requirements for collecting under an assignment of rents, updated requirements for performing property inspections, changes to issuing bidding instructions, updates to flood insurance requirements, and other miscellaneous revisions.

Servicing Guide - PDF Version (August 12, 2015)

July 28, 2015 - The update includes allowing certain transactions involving affordable LTV ratio calculations be underwritten by DU; increased LTV, CLTV, and HCLTV ratios for certain Limited Reviews of condo projects; updates for leased solar panels; clarification of the value used to determine mortgage insurance coverage for New York properties, including co-ops; and other miscellaneous updates and changes.

Selling Guide - PDF Version (July 28, 2015)

July 8, 2015 - This update contains policy changes related to requirements for post-foreclosure bankruptcy filings, MBS reclassification requirements, updates to the application of HAMP Incentives, changes to Form 181, and miscellaneous revisions; as well as a reminder of the July 7th Servicing Notice.

Servicing Guide - PDF Version (July 8, 2015)

Selling Guide - PDF Version (June 30, 2015)

June 30, 2015 - The announcement includes updates, clarifications, and simplifications relating to borrower income, assets, and employment; and other selling policies and lender requirements.

June 10, 2015 - This update contains policy changes related to custodial document reconciliation requirements, updates to the Investor Reporting Manual, the extension of Fannie Mae HAMP and 2MP programs, the elimination of Fannie Mae Streamlined Modification expiration dates, updates to the Allowable Bankruptcy Attorney Fees Exhibit, and miscellaneous revisions, as well as clarifications to HAMP Pay for Performance Notice requirements.

Servicing Guide - PDF Version (June 10, 2015)

May 26, 2015 - The update includes removal of the requirement that revolving account be closed at or prior to closing in order to exclude the payment from the debt-to-income ratio; extension of DU Refi Plus and Refi Plus; updates to information about the Affidavit of Affixture for manufactured housing loans; clarification of CLTV and HCLTV ratio requirements for project reviews for Florida condos; replacement of references to eCommitting, eCommitONE, National Underwriting Center and NUC; and other miscellaneous updates and changes.

Selling Guide - PDF Version (May 26, 2015)

Servicing Guide - PDF Version (May 20, 2015)

May 20, 2015 - This Announcement updates policy requirements related to the sellerservicers net worth and liquidity and subservicing and outsource vendor requirements.

May 20, 2015 - This Announcement contains policy changes related to performing property inspections for abandoned properties, MI premium expense reimbursement, updates to the Investor Reporting Manual, miscellaneous revisions, and includes an update to the effective date for the policy changes described in LL-2014-06 Advance Notification of Future Changes to Investor Reporting Requirements.

May 5, 2015 - The New Mexico security instrument - Form 3032 has been revised to convert it from a deed of trust form to a mortgage form, which now provides for judicial foreclosures.

April 17, 2015 - This Announcement communicates that at the direction of the Federal Housing Finance Agency, certain loan-level price adjustments (LLPAs) are being changed. In addition, the Adverse Market Delivery Charge is being discontinued. These pricing changes will be applied to whole loans purchased on or after September 1, 2015, or loans delivered into MBS pools with issue dates on or after September 1, 2015 (including DU Refi Plus and Refi Plus loans). The details of the pricing adjustments are available in the Loan-Level Price Adjustment (LLPA) Matrix and the Refi Plus Loan-Level Price Adjustment (LLPA) Matrix.

April 15, 2015 - This update provides notification of policy changes related to processing additional principal payments for delinquent mortgage loans, accepting funds from Hardest-Hit Fund (HHF) Programs and Housing Finance Agencies (HFAs), and for accepting a partial reinstatement during foreclosure.

April 8, 2015 - This update contains policy changes to the Office of Foreign Assets Control (OFAC) Specialty Designated Nationals (SDN) List requirements, changes to title defect reporting, and clarifications for obtaining the increased Mortgage Release borrower relocation incentive. This update also incorporates policy changes previously communicated in SVC-2015-04 and LL-2015-01.

Servicing Guide - PDF Version (April 8, 2015)

March 31, 2015 - This Lender Letter discusses Fannie Maes post-purchase loan file review process and the shift in focus to increasing lender certainty through defect prevention, remedies, and alternative to repurchase. Also, the National Underwriting Center has been renamed as the Loan Quality Center.

March 31, 2015 - The update introduces the Servicing Execution Tool (SET) Bifurcation option for approved lenders and updates policies related to margin requirements for co-op share ARM loans; owner-occupancy requirements; ALTA short form coverage; alignment of the Selling Guide with Desktop Underwriter messages for derogatory credit events and disputed credit tradelines; and other miscellaneous updates and changes.

Selling Guide - PDF Version (March 31, 2015)

March 18, 2015 - This update contains policy changes related to the use of multiple custodial accounts, property (hazard) and flood insurance losses, delinquency status code hierarchy and definitions, reimbursing Fannie Mae for a cancelled mortgage loan modification, Fannie Mae Standard and Streamlined Modifications, notifying Fannie Mae of changes to a servicers organization, and the new Non-Routine Litigation Form (Form 20).