Selling Guide

Published March 29, 2016

Preface

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae:

Find out more about the Selling Guide

Update in 90 Seconds >>

Watch Jude describe the March Selling Guide Update.

See Also: Previous Policy Videos

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What's New

  • Announcement SEL-2016-03

    The update includes enhancing the policies for financing energy improvements; simplifying the multiple financed properties policy; removing the special lender approval requirement to deliver Texas Section 50(a)(6) loans; clarifying several project-related flood insurance coverage requirements; and other miscellaneous updates and changes.

  • Key Selling Announcement SEL-2016-03 Updates

    For a summary of key updates in Selling Announcement SEL-2016-03, read the executive overview provided by Carlos Perez, Chief Credit Officer for Single Family.

Related Resources

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. It includes the following subparts: Approval Qualification, Lender Contract, Getting Started With Fannie Mae, Maintaining Lender Eligibility.

Part B: Origination Through Closing

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.

Part C: Selling, Securitizing, and Delivering Loans

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).

Part D: Ensuring Quality Control (QC)

This part discusses the quality control process for lenders and Fannie Mae. It includes the following subparts: Lender QC Process, Fannie Mae QC Process.

Part E: Quick Reference Materials

This part provides reference materials to support this Guide.