Have Selling Questions? Ask Poli

AskPoli

Fannie Mae customers! Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool.

Launch Ask Poli for Sellers  

Guide Resources

Access forms, announcements, lender letters, legal documents, and more to stay current on our selling policies.

View Resources  

B8-3-01, Notes for Conventional Mortgages (09/02/2020)

Introduction

This topic contains information on notes for conventional loans, including:


Use of Conventional First Mortgage Notes

Lenders should use the note that is correct for the applicable mortgage type, lien type, property type, and product type for regularly amortizing conventional mortgages that are closed on the Fannie Mae/Freddie Mac uniform security instruments.

Fannie Mae publishes state-specific fixed-rate notes for ten jurisdictions (although they are not available for all products). The multistate note can be used in most jurisdictions unless the security property is located in a jurisdiction for which Fannie Mae publishes a state-specific mortgage note.

The various notes that are used for fixed-rate mortgages may be found on Fannie Mae's  Legal Documents website. Authorized changes that must or may be made to these documents are set out in the instructions that accompany each document.


Adjustable-Rate Mortgage Notes

Generally, notes for adjustable-rate mortgages apply to specific ARM plans. Fannie Mae does not publish state-specific notes for all ARM plans. If Fannie Mae does not publish state-specific documents for a particular ARM plan, the lender must use the multistate note for that particular ARM plan and amend it as necessary to satisfy the requirements of the jurisdiction in which the security property is located. Required amendments may be incorporated by reprinting the amended documents, adding addenda to the documents, or making the changes on the documents themselves. The various notes that are used for ARMs may be found on Fannie Mae's Legal Documents website. Authorized changes that must or may be made to these documents are set out in the instructions that accompany each document.


Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic.

Announcements Issue Date
Announcement SEL-2020-05 September 02, 2020
Announcement SEL-2019-01 February 06, 2019

 

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.