Servicing Guide

Published December 12, 2018

A1-3-05: Redelivering a Mortgage Loan (11/12/2014)

Fannie Mae may allow the redelivery of a mortgage loan that was repurchased by the responsible party, as long as the defect making the mortgage loan ineligible has been corrected and it meets Fannie Mae’s current underwriting standards. This includes mortgage loans repurchased due to MI rescissions, claim denials, or mortgage insurer-initiated cancellation of coverage. The terms for redelivery of mortgage loans previously repurchased from Fannie Mae will be considered on a case-by-case basis at Fannie Mae’s sole discretion, on a negotiated basis.

Note: Fannie Mae will not accept redelivery of a mortgage loan that was required to be repurchased by a secondary market investor, GSE, or private institutional investor other than Fannie Mae even if the identified defect has been corrected and the mortgage loan may otherwise meet Fannie Mae requirements.

A mortgage loan that a lender repurchased from another investor or GSE that was delivered in error to that investor or GSE is eligible for delivery to Fannie Mae as long as it meets all current requirements.

In the event a mortgage loan is deemed ineligible for redelivery to Fannie Mae or rejected by Fannie Mae upon redelivery, any future losses incurred after repurchase are the responsibility of the responsible party and not Fannie Mae.