Watch Jude describe the October Selling Guide Update.
See Also: Previous Policy Videos
The following updates were made in October; introduced the new optional DU validation service for income; made property inspection waivers available for eligible refinance transactions; enhanced the HomeReady affordable product; removed the project review requirements for certain detached condos; improved liquidity options through Fannie Majors and MBS pooling parameters requirements; and other miscellaneous updates.
For a summary of key updates in this Selling Guide Announcement, view the executive perspectives video presented by Jude Landis, Vice President, Credit Policy, and/or the executive overview provided by Carlos Perez, Chief Credit Officer for Single Family.
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. It includes the following subparts: Approval Qualification, Lender Contract, Getting Started With Fannie Mae, Maintaining Lender Eligibility.
This part provides the requirements for originating conventional and government loans for sale to Fannie Mae. It includes the following subparts: Loan Application Package, Eligibility, Underwriting Borrowers, Underwriting Property, Unique Eligibility and Underwriting Considerations, Government Programs Eligibility and Underwriting Requirements, Insurance, Closing: Legal Documents.
This part describes the requirements associated with the two primary ways lenders transact business with Fannie Mae: selling whole loans for cash and pooling loans into Fannie Mae mortgage-backed securities (MBS). It includes the following subparts: General Information on Execution Options and Loan Delivery, Whole Loan Transactions, Mortgage-Backed Securities (MBS).
This part discusses the quality control process for lenders and Fannie Mae. It includes the following subparts: Lender QC Process, Fannie Mae QC Process.
This part provides reference materials to support this Guide.