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Announcement SEL-2017-03: Selling Guide Updates
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.
Selling Notice: Using MERS for Properties in Maine
March 7, 2017 - Fannie Mae has issued a Selling Notice regarding future changes to the use of Mortgage Electronic Registration System® (MERS®) for properties in the state of Maine.
Announcement SEL-2017-02: Selling Guide Updates
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 or loss.
Announcement SEL-2017-01: Selling Guide Updates
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.
Lender Letter LL-2017-01: Mortgage Insurance Updates
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.
Announcement SEL-2016-09: Selling Guide Updates
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.
Selling Notice: 2017 Loan Limit Implementation in Desktop Underwriter
December 6, 2016 - On November 23, 2016, we announced the new loan limits that will apply to loans delivered to Fannie Mae in 2017. The purpose of this Notice is to provide an update on the implementation of the limits in Desktop Underwriter (DU®).
Lender Letter LL-2016-05: Confirmation of Conventional Loan Limits for 2017
Information on the 2017 general and high-cost area loan limits and updated resources are available. The loan limits increase for the first time since 2006.
Announcement SEL-2016-08: Selling Guide Updates
October 24, 2016 - The following updates were made in October; introduced the new optional DU validation service for income; made property inspection waivers available for eligible refinance transactions; enhanced the HomeReady affordable product; removed the project review requirements for certain detached condos; improved liquidity options through Fannie Majors and MBS pooling parameters requirements; and other miscellaneous updates.
Announcement SEL-2016-07: Selling Guide Updates
August 30, 2016 - Describing the Independent Dispute Resolution (IDR) process: The IDR framework, announced earlier this year, is now incorporated into the Selling Guide along with other updates.
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