June 20, 2017 - effective the weekend of July 8, 2017, updated HomeReady income limits will be implemented in Desktop Underwriter
(DU) and in the HomeReady Income Eligibility Lookup tool. Read the Selling Notice for more information.
May 30, 2017 - the following updates were made in May: electronically notarized documents are accepted by Fannie Mae; whole
loan ARM commitments now use the gross mortgage margin; over-delivery limits of whole loan commitments cannot exceed 25%;
more flexibility for whole loan cash back pay-offs; and copies of mortgage documents are allowable documentation.
April 25, 2017 - The following updates were made in April: new solutions for borrowers with student loan debt; project review
waivers for certain Fannie Mae to Fannie Mae limited cash-out refinances; simplification of some cash-out refinance policies;
March 28, 2017 - The following updates were made in March: lenders may obtain a verification report for use with the Desktop
Underwriter® (DU®) validation service from a report supplier or a report distributor; loans with a Collateral Underwriter®
risk score of 2.5 or below on the appraisal are eligible for certainty on appraised value regardless of whether the loan was
underwritten through DU.
February 28, 2017 - The following updates were made in February to simplify and clarify policies: borrower-signed Form 4506-T
not required if all of their income is validated through the Desktop Underwriter® (DU®) validation service; updates the definitions
of homeownership education and housing counseling; and standardizes the calculations for monthly qualifying rental income
January 31, 2017 - The following updates were made in January: clarifications and updates to several appraisal policies; updates
to confidentiality of information and data breach guidelines; changes to seller/servicer financial eligibility requirements;
removal of duplicative content in the Selling Guide and Servicing Guide; and other miscellaneous updates.
January 4, 2017 - Fannie Mae has approved the acquisition of United Guaranty Corporation, including mortgage insurers United
Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company, by Arch Capital Group, Ltd.
December 6, 2016 - The following updates were made in December; asset and employment validation offered through the Desktop
Underwriter® (DU®) validation service starting on December 10, 2016, introduces freedom from reps and warrants on property
value for loans with a Collateral Underwriter® risk score of 2.5 or lower effective December 10, 2016, removes the Property
Inspection Waiver fee for loans delivered to Fannie Mae on or after January 1, 2017. The fee for the DU Refi Plus™ Property
Fieldwork Waiver is also discontinued for loans delivered on or after January 1, 2017, clarifies when lenders must update
appraisers of changes to a sales contract, and and other miscellaneous updates.