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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April 15, 2024 – We are aware of the proposed settlement agreement, subject to court approval, announced by the National Association of REALTORS® (NAR) in the Burnett et al and Moehrl et al cases. While there are no immediate changes to our Selling Guide policies, we are clarifying the current treatment of seller-paid real estate agent fees under our interested party contributions (IPCs) policy.

Provides a summary of Selling Guide, Servicing Guide, and other policy related communications & updates issued in 2024.

March 13, 2024 – This announcement adds instructions to the Loan Modification Agreement (Form 3179) in response to New York’s Foreclosure Abuse Prevention Act and the instructional provision related to MERS and provides other miscellaneous updates.

Updated March 13, 2024 – This Lender Letter contains the policies previously published in LL-2021-12 on Dec. 14, 2022, with the changes noted within. It provides advance notice of upcoming changes to our Master Servicing processes and systems. These changes include the retirement of the Servicer’s Reconciliation Facility™ (SURF™) application in 4Q 2023.

March 6, 2024 – In March, the Selling Guide has been updated to expand the DU validation service to allow income and employment validation using an asset verification report.

Selling Guide - PDF Version (March 6, 2024)

Portfolio FIN Recon Job Aid

February 14, 2024 – The February Servicing Guide update clarifies servicer responsibilities related to monitoring and verification of property insurance coverage and provides other miscellaneous updates.

Servicing Guide - PDF Version  (February 14, 2024)

February 7, 2024 – The February Selling Guide expands the value acceptance + property data offering to include condos, clarifies the qualifying rate for 7- and 10-year ARMS, allows cash-out refinances for manufactured homes with terms up to 30 years, updates eligible types of nontraditional credit references, clarifies policies for the use of business income, clarifies property insurance coverage requirements, updates mortgage origination definitions, and includes other miscellaneous updates.

Selling Guide - PDF Version (February 7, 2024)

January 24, 2024 – This Lender Letter updates policies to address some of the barriers to entry for very low-income purchase borrowers, we are offering a temporary $2,500 loan-level price adjustment credit on our HomeReady® loan product. This credit can be used for down payment and closing costs on loans delivered after March 1, 2024.

Provides a summary of Selling Guide, Servicing Guide, and other policy related communications & updates issued in 2023.

December 20, 2023 – The December Servicing Guide update advises large non-depository sellers/servicers of updates to the frequency of financial reporting requirements and provides other miscellaneous updates.

Servicing Guide - PDF Version  (December 20, 2023)

Updated December 20, 2023 - This Investor Reporting Manual (Manual) outlines Fannie Mae's requirements for the mortgage loan accounting system it uses for reporting on the status of one- to four-unit mortgage loans either held in its portfolio or pooled in an MBS. (The Fannie Mae investor reporting system is also used for multifamily mortgage loans that are in MBS pools). This Manual is incorporated into the Servicing Guide by reference. In the event that the Manual and the Servicing Guide are conflicting, the servicer must follow the requirements set forth in the Servicing Guide.

December 13, 2023 – The December Selling Guide has been updated to permit lenders to use alternative options to meet verbal verification of employment requirements, allow optional use of Income Calculator to determine the monthly qualifying income for self-employed borrowers, and more.

Selling Guide - PDF Version (December 13, 2023)

Updated December 13, 2023 - The Servicing Notice announces that the replacement index that will be used for servicing our legacy single-family LIBOR mortgage loans is the spread-adjusted term SOFR administered by the CME Group Benchmark Administration, LTD. and published by Refinitiv Limited. The Federal Reserve Board selected the replacement rates as required by the Adjustable Interest Rate (LIBOR) Act and in anticipation of LIBOR’s cessation on the day after June 30, 2023.

Updated December 13, 2023 – This Lender Letter updates policies previously published in LL-2023-07 (and updated on Aug. 9 2023) to clarify that, when the servicer is evaluating a borrower for a Fannie Mae Flex Modification in the circumstance where the borrower has become 60 days delinquent within 6 months of a COVID-19 payment deferral’s effective date and the servicer has been unable to achieve QRPC, the servicer is not required to have reported the mortgage loan with reason for delinquency code 022, Energy-Environment Costs, prior to the date of the Flex Modification evaluation.

Updated November 29, 2023 - The October Servicing Guide updates the Loan Modification Agreement including with additional instructions, updates Fannie Mae’s minimum requirements for law firms selected and retained for default-related legal services, and other miscellaneous updates.

November 28, 2023 - Fannie Mae loan limit values are increasing in 2024. The new loan limit for most of the country will be $766,550 — a 5.56% increase over the 2023 limit — and is effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2024.

November 1, 2023 – The November Selling Guide has been updated to prohibit an employment offer or contract for future employment from a family member or interested party to a transaction, updates general lender requirements regarding lender staffing, training, and policies and procedures to maintain seller/servicer eligibility, clarifies the policy to acknowledge an unauthorized transfer of ownership or change in occupancy status, and updates the Special Lender Approval Form (Form 1000A) to make it easier for lenders to apply to sell or acquire servicing for HomeStyle® Renovation Mortgages.

Selling Guide - PDF Version (November 1, 2023)

October 18, 2023 – With the guidance of our regulator, the Federal Housing Finance Agency (FHFA), and in coordination with Freddie Mac, loans previously or currently in a COVID-19 forbearance may be eligible for relief from enforcement of representations and warranties using the criteria that apply to loans subject to a disaster-related forbearance in Selling Guide A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility (the “framework”).