August 29, 2017 - as we work together to support the victims of Hurricane Harvey, servicers are reminded that Fannie Mae has
servicing policies to assist impacted borrowers following a disaster, such as Hurricane Harvey. For updated guidance, refer
to Lender Letter LL-2017-03: Servicing Policies for Mortgage Loans Impacted by Hurricane Harvey and visit our Assistance in
Disasters page for information about our policies for providing assistance to borrowers impacted by a disaster.
August 29, 2017 - the following updates were made in August: Lenders are required to use Form 3749 when assigning loans to
MERS in Maine, effective Jan. 1, 2018; topics in Selling Guide Part A were updated and duplicative content was removed from
Servicing Guide; credit report requirements now align with industry standard reporting.
July 25, 2017 - The following updates were made in July: Policies to align with DU version 10.1 including max DTI ratio of
50%, max LTV for ARMs up to 95%, and simplified process for disputed tradelines; loan eligibility for borrowers with employment
offers or contracts; more flexibility for borrowers with student loans, mortgages paid by others, alimony obligations, and
timeshare accounts; document custody requirements streamlined; and changes to seller/servicer fidelity bond and omissions
insurance requirements, effective Oct. 1, 2018.
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;