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Announcement SEL-2016-03: Selling Guide Updates
March 29, 2016 - The update includes eliminating the policy on continuity of obligation; clarifying lender reporting obligations related to a breach of compliance with laws violations; use of consistent language regarding the types of losses for which lenders must indemnify Fannie Mae; clarifying when recourse is required on HomeStyle Renovation mortgage loans; adopting a simplier definition of relocation loans; and other miscellaneous updates and changes.
Announcement SEL-2016-02: Selling Guide Updates
February 23, 2016 - The update includes eliminating the policy on continuity of obligation; clarifying lender reporting obligations related to a breach of compliance with laws violations; use of consistent language regarding the types of losses for which lenders must indemnify Fannie Mae; clarifying when recourse is required on HomeStyle Renovation mortgage loans; adopting a simplier definition of relocation loans; and other miscellaneous updates and changes.
Selling and Servicing Notice: Flint, MI
February 11, 2016 - Flint, MI. This notice reminds lenders and servicers about existing products, loan options, and servicing flexibilities that are available for homeowners who may be impacted by the water crisis in Flint, Michigan.
Announcement SEL-2016-01: Lender Selling Representations and Warranties Framework - Independent Dispute Resolution
February 2, 2016 - This announcement introduces the IDR process which offers a neutral third party to resolve repurchase requests that remain unresolved after the appeal and escalation processes have been exhausted. This process grew out of a year of work with lenders, Freddie Mac, and FHFA.
Announcement SEL-2015-13: Selling Guide Updates
December 15, 2015 - The update includes allowing second home and investment property loans to be secured by properties with age-related resale restrictions; policy update pertaining to manufactured homes under the RD-Guaranteed Section 502 program; clarifications relating to quality control vendor oversight reporting, reverification of income, and appraisal field reviews; removed the requirement to obtain a form from the borrower at loan closing to authorize early delinquency counseling; changed how and when buyup and buydown grids are posted; and other miscellaneous updates and changes.
Lender Letter LL-2015-07: Confirmation of Conventional Loan Limits for 2016
November 25, 2015 - Information on the 2016 general and high-cost area loan limits and updated resources are available on the Loan Limits web page.
Announcement SEL-2015-12: Selling Guide and Other Updates
November 3, 2015 - The update includes allowing refund of loan-level price adjustments on certain mortgage loans; clarifications and updates to co-op review policies; expansion of project review options for established condo projects; policy pertaining to delivery of loans with more than two borrowers will not be enforced; policy changes pertaining to HomeReady; and other miscellaneous updates and changes.
Announcement SEL-2015-11: Selling Representations and Warranties Framework Origination Defects and Remedies
October 7, 2015 - This Announcement introduces the remedies framework, clarifying how Fannie Mae will define and categorize origination defects as well as the corrections and remedies available to lenders.
Lender Letter LL-2015-06: Information Related to Know Before You Owe TILA-RESPA Integrated Disclosures
October 6, 2015 - Fannie Mae recognizes and appreciates the enormous efforts that lenders and their partners in the mortgage industry have undertaken to meet the requirements created by CFPB s Know Before You Owe TILA-RESPA Integrated Disclosure (TRID) rule. This Lender Letter describes Fannie Mae s expectations for lender compliance with TRID.
Announcement SEL-2015-10: Selling Guide Updates
September 29, 2015 - This Selling Guide update includes details about HomeReady mortgage, our enhanced affordable lending product designed to meet the diverse needs of today s buyers; and updated homeownership education requirements.
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