Announcement SEL-2015-02: Selling Guide Updates
February 24, 2015 - The update contains clarifications to the effective dates for pricing; postponement of policy pertaining
to delivery of loans with more than two borrowers; reorganization of co-op topics; clarification to the project standards
policies; update to the Lender Breach of Contract topic; and other miscellaneous updates and changes.
Lender Letter LL-2015-02: Appraisal Tools, Processes, and Policies
February 4, 2015 - This Lender Letter provides clarifications and additional information on Fannie Mae’s valuation-related
tools and appraisal policies, including Collateral Underwriter, Appraiser Quality Monitoring, and updates to the Property
Eligibility and Appraisal Requirements section of the Selling Guide.
Announcement SEL-2015-01: Selling Guide Updates
January 27, 2015 - The update contains policy changes pertaining to increase in the maximum LTV, CLTV, and HCLTV ratios for
certain principal residence transactions; clarification to home-buyer education and counseling; clarification of leasehold
estates; removal of references to Expanded Approval; and other miscellaneous updates and changes.
Announcement SEL-2014-16: Selling Guide Updates
December 16, 2014 - The update contains policy changes pertaining to self-employed income policy, solar panels, payment calculation
for student loans, flood insurance alignment with new federal law, cure provision for points and fees alignment with the CFPB
rule, and other miscellaneous updates and changes.
Announcement SEL-2014-14: Lender Selling Representations and Warranties Framework Updates
November 20, 2014 - This update provides lenders with more certainty regarding when Fannie Mae will enforce remedies, including
repurchase, related to the life of loan exclusions for misstatements, misrepresentations, omissions and data inaccuracies;
makes other updates related to Unacceptable Mortgage Products, Compliance with Laws, and post-purchase file reviews; and includes
reminders relating to lenders’ right to appeal repurchase requests.
Announcement SEL-2014-13: Selling Guide Updates
November 10, 2014 - The update contains policy changes with regard to project standards policy; liability insurance requirements;
reduction in the maximum LTV, CLTV, and HCLTV ratios for fixed-rate cash-out refinance transactions from 85% to 80%; loan-level
price adjustments to mortgage loans for borrowers without credit score; underwriting requirements for borrowers with multiple
financed properties; electronic submission of loan files via the National Underwriting Center File Transfer Portal or Lender
Direct by February 1, 2015; clarification to the mortgage insurance policy; and other changes.
Announcement SEL-2014-12: Selling Guide Updates
September 30, 2014 - The update contains policy changes with regard to employment-related assets as qualifying income; policy
update to accept third-party vendor verifications of asset and depository information; clarifications to the current title
insurance requirements, including Texas and Texas 50(a)(6); updates to allow delivery of HUD-guaranteed Section 184 mortgage
loans and RD-guaranteed Section 502 loans as standard products; rental income and the publication of three rental income worksheets;
updates to the list of Fannie Mae-approved mortgage insurance Forms for mortgage insurance providers; and other changes.