Selling Guide

Published October 2, 2018

Part A: Doing Business with Fannie Mae

This part describes the requirements a lender must satisfy to become a Fannie Mae-approved seller and servicer of residential home mortgage loans. This part also includes information on an approved lender’s contractual obligations, procedures for obtaining technology applications, and requirements for maintaining lender eligibility.

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A1: Approval Qualification

This subpart states that seller/servicers must be approved to do business with Fannie Mae and provides reference to additional information.
  • A1-1: Application and Approval of Seller/Servicer

    This chapter includes information on the eligibility and application requirements for sellers/servicers seeking Fannie Mae approval. It also describes loan types that require special seller/servicer approval.

A2: Lender Contract

This subpart describes some of the contractual obligations a lender takes on when it becomes an approved Fannie Mae lender. It includes information on the representations and warranties a lender makes when delivering mortgages to Fannie Mae, the limited waiver of representations and warranties for mortgages underwritten with Desktop Underwriter (DU), the circumstances under which the Lender Contract can be terminated, and the consequences of any breach of lender obligations. It also describes scenarios that may result in loan repurchase or make whole payment demands. This subpart also includes Fannie Mae’s policies on the establishment, maintenance, retention, and examination of loan files and records, and the use of Fannie Mae’s name and trademarks.

A3: Getting Started With Fannie Mae

This subpart describes the requirements a lender must meet in order to transact business with Fannie Mae, which includes the procedures for obtaining technology applications and completing the compliance certifications. It contains policies on concurrent servicing transfers and working with third parties, such as mortgage brokers, loan correspondents, quality control firms, document custodians, and subservicers. It addresses Fannie Mae’s requirements related to data delivery and integrity, handling of confidential information, fraud prevention, and fidelity bond and errors and omissions coverage.

A4: Maintaining Seller/Servicer Eligibility

This subpart contains the requirements to which sellers/servicers must adhere in order to maintain their eligibility to transact business with Fannie Mae. It describes the financial statements, operational reports, and Lender Record information that sellers/servicers must submit to Fannie Mae, and it addresses the types of organizational changes and events for which sellers/servicers must notify Fannie Mae in writing.
  • A4-1: Maintaining Seller/Servicer Eligibility: Overview

    This chapter describes the requirements a seller/servicer must satisfy to maintain or reactivate its status as a Fannie Mae-approved seller/servicer. Reactivated sellers/servicers may again deliver loans to Fannie Mae and/or service Fannie Mae loans (and subservice loans for other Fannie Mae-approved servicers). It also includes information on the servicer’s required rating.
  • A4-2: Submission of Operational and Financial Information

    This chapter explains the financial statements, operational reports, and Lender Record Information form that an approved seller/servicer must submit to Fannie Mae to demonstrate its continued compliance with Fannie Mae’s requirements.
  • A4-3: Changes in the Seller/Servicer’s Organization

    This chapter describes the types of organizational changes and events for which an approved seller/servicer must provide advance written notice to Fannie Mae.