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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Selling Guide - PDF Version (September 6, 2023) |
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Updated August 9, 2023 - This lender letter provides an update to the standard payment deferral workout option. Key changes include allowing the deferral of at least two and up to six months of past due principal and interest (P&I) payments, including escrow and servicing advances paid to third parties. The borrower may not defer more than 12 months of cumulative past-due P&I payments over the life of the loan. Servicers may implement these changes starting July 1 but must implement by Oct. 1. |
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Updated August 9, 2023 - Updates the provisions regarding the suspension of foreclosure-related activities and filing motions for relief from the automatic stay in certain bankruptcy cases. |
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August 2, 2023 – The August Selling Guide update revises the Appraiser Independence Requirements, introduces Property Data Collector Independence Requirements, and makes miscellaneous changes. |
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Selling Guide - PDF Version (August 2, 2023) |
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July 12, 2023 - The July Servicing Guide update adjusts the requirements for partial release of security and makes miscellaneous changes. |
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Servicing Guide - PDF Version (July 12, 2023) |
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July 5, 2023 – The July Selling Guide update revises our policies and review requirements for condo and co-op project eligibility for properties in need of critical repairs and/or that have special assessments, and more; adjusts eligibility requirements for limited cash-out refinance transactions, requiring at least one borrower to be a current owner of the subject property; and incorporates eligibility requirements for the sale of loans aged six months or less. |
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Selling Guide - PDF Version (July 5, 2023) |
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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 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: |
