Selling Policy Communications

Access a list of Selling Announcements, Lender Letters, Notices, and related communications.

Selling Guide updates typically are published on the first Wednesday of the month.

Lender Letter LL-2020-03 – Impact Covid-19 Originations July 9, 2020-This Lender Letter provides reminders and temporary flexibilities to support mortgage originations.
Lender Letter LL-2020-04 – Impact Covid-19 Appraisals July 9, 2020-This Lender Letter provides temporary guidance on appraisal requirements and completion reports, including allowing exterior-only and desktop appraisals for many transactions.
Lender Letter LL-2020-10 – Usage of Redesigned Form 1003 July 1, 2020-This Lender Letter provides information about the use of the redesigned Form 1003.
Lender Letter LL-2020-06 – COVID-19 Selling Loans Forbearance June 11, 2020-This Lender Letter provides temporary liquidity options for certain loans in forbearance after loan closing.
Announcement SEL-2020-03 – Selling Guide Updates 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.
Selling Notice – HomeReady Income Limits 2020 June 3, 2020-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.
Announcement SEL-2020-02 – Selling Guide Updates April 1, 2020-April’s Selling Guide update includes additional details about the Secured Overnight Financing Rate (SOFR) ARM products we will begin to accept as of Aug. 3; property tax and escrow clarifications; and other miscellaneous updates.
Selling Notice – List of Approved Mortgage Insurance Forms Updated February 12, 2020-As noted in Lender Letter LL-2019-08 dated November 20, 2019, Fannie Mae worked with approved mortgage insurers to update their master primary policies and related endorsements and other forms (Forms).
Lender Letter LL-2020-01 – Important Updates to Adjustable-Rate Mortgage (ARM) Products February 5, 2020-We've issued a Lender Letter to help prepare our customers for a successful transition from LIBOR ARMs to new SOFR ARM products. Lender Letter LL-2020-01 provides details on updated ARM instruments, retirement of LIBOR ARMs, SOFR ARMs, and the future retirement of CMT ARMs.
Announcement SEL-2020-01 – Selling Guide Updates February 5, 2020-February’s Selling Guide update revises our policies on liabilities related to rental housing payment and calculating monthly qualifying rental income; delays a previously announced policy change related to calculating monthly real estate tax payments; and more.
Selling and Servicing Notice – Taxpayer First Act and Use of Tax Return Information (This Notice was replaced on Dec. 16.) December 16, 2019-The Taxpayer First Act was signed into law on July 1, 2019. It includes a provision that persons receiving return information must obtain the express permission of taxpayers prior to disclosing that return information to any other person.
Selling and Servicing Notice – Taxpayer First Act and Use of Tax Return Information – UPDATE December 16, 2019-Fannie Mae sellers and servicers must comply with a provision of the Taxpayer First Act that requires persons receiving tax return information to obtain express taxpayer permission to disclose return information to any other third parties.
Malloy Evans: Key Updates in Latest Announcement (Dec. 4, 2019) December 4, 2019-Single-Family Chief Credit Officer, Malloy Evans, offers an executive overview of the latest Announcement.
Announcement SEL-2019-09 – Selling Guide Updates December 4, 2019-December updates announce clarifications to calculating monthly real estate tax payments, clarify policies on non-applicant debt, address bridge loan treatment in monthly debt obligations, and more.
Lender Letter LL-2019-09 – Confirmation of Conventional Loan Limits for 2020 November 26, 2019-Details on the 2020 general and high-cost area loan limits and updated resources are available. The new loan limit for most of the country is $510,400, indicating a 5.38% increase over the 2019 limit.
Lender Letter LL-2019-08 – Approved Mortgage Insurance Forms November 20, 2019-This Lender Letter provides guidance on updated mortgage insurers master primary policies and related endorsements and other forms. Any loan sold to or securitized by us that has mortgage insurance and a loan application date on or after March 1, 2020, must be insured under one of the new approved forms.
Selling and Servicing Notice – Taxpayer First Act November 6, 2019-The Taxpayer First Act was signed into law on July 1, 2019. It includes a provision that persons receiving return information must obtain the express permission of taxpayers prior to disclosing that return information to any other person.
Malloy Evans: Key Updates in Latest Announcement (Oct. 2, 2019) October 2, 2019-Single-Family Chief Credit Officer, Malloy Evans, offers an executive overview of the latest Announcement.
Announcement SEL-2019-08 – Selling Guide Updates October 2, 2019-October updates announce changes to homeownership education requirements, clarify policies on employment offers and contracts, revise rental income policy, establish anti-money laundering activity reporting requirements, and more.
Malloy Evans: Key Updates in Latest Announcement (Aug. 7, 2019) August 7, 2019-Single-Family Chief Credit Officer, Malloy Evans, offers an executive overview of the latest Announcement.