From time to time, we will post additional news and updates to keep you informed about the availability or use of specific mortgage documents or changes to the documents or summary pages.
All of the security instruments, notes, riders & addenda, and special-purpose documents that should be used in connection with regularly amortizing one- to four-family conventional first mortgages that are sold to Fannie Mae are available for viewing, printing, or downloading in Microsoft® Word format.
In addition, other special-purpose documents are available -- such as the state-specific Balloon Loan Refinancing Instruments, the Texas Home Equity Affidavit and Agreement, the New York Consolidation, Extension and Modification Agreement, etc.
The mortgage documents that Fannie Mae makes available through the Web fall into one of the categories: security instruments, notes, riders & addenda, and special purpose.
Each document is accompanied by an an Instructions document providing:
To comply with the requirements of the Truth in Lending Act and Regulation Z (12 C.F.R. § 1026.36(g)), lenders are authorized to add to the last page of the note and the last page of the security instrument the name of the mortgage loan originator (LO) and NMLSR ID number for both an organization and individual. This information must be placed below the borrower signature lines and any notary section. If state or local law requires the placement of this information in a different location on the legal documents, lenders may place the LO name and NMLSR ID in an alternate location in order to comply with applicable requirements. Lenders may implement this change immediately and must implement it by no later than January 10, 2014.
NOTE: This authorized change has not yet been added to the individual instructions for each legal document.
For legal documents that are executed by inter vivos trust borrowers, lenders may change the signature block as follows, in accordance with Announcement SEL-2013-01:
___________________________, Trustee of the __________________________ Trust
under trust instrument dated ___________________________.
NOTE: This authorized change has not yet been added to the individual Instructions for each legal document.
Lenders are authorized to update the citation to Regulation X, which appears in the Definitions section of the Fannie Mae/Freddie Mac security instruments. This change reflects a recodification of Regulation X published in an interim rule by the Consumer Financial Protection Bureau (see 76 Fed. Reg. 78978). Specific instructions for this update are provided below.
Lenders MAY amend the "Definitions" section of security instruments to update the citation to Regulation X in subsection (O) "RESPA" (or in subsection (P) "RESPA" as applicable) as follows:
(a) Delete the parenthetical after Regulation X (24 C.F.R. Part 3500), and
(b) Insert a new parenthetical after Regulation X, which reads as follows:
(12 C.F.R. Part 1024)
NOTE: These authorized changes have not yet been added to the individual Instructions for each security instrument..
We periodically make minor revisions to the Legal Documents, typically to comply with changes to applicable laws. When we revise the documents, we include a notation in the tagline at the bottom of the form to indicate the revision date, and we also include a notation of the revision date in the Instructions or Summary page for the document. Users may begin using revised Legal Documents immediately. Unless we specify, or applicable law requires, an earlier effective date, we require the use of revised documents by no later than six months after the revision date.
Users may reproduce any of the mortgage documents under the user's company name or logo (or without an identifying company name or logo), but the text should NOT be altered except as authorized in the Instructions document.
The legend showing the document name, number, and date must always appear on the document; any format revisions must also provide for the appropriate pagination (number and sequence) to appear on each page.
Electronic versions of the security instruments, notes, and riders are generally presented as individual letter-sized pages; however, a few documents are presented as individual legal-sized pages. We give users blanket authorization to comply with changes in state or local recordation statutes as soon as they become effective, by allowing users to select the most appropriate printing alternative.
Any of the mortgage documents may be printed as:
Any other changes that are necessary to assure that the documents are in compliance with any other requirements of state or local recordation statutes or laws are also authorized.
A user must verify the accuracy of any document it reproduces (or has reproduced). If a mortgage document is altered in any way that we have not specifically authorized (other than ministerial changes such as format changes related to recording requirements), we will consider the document to be a non-standard document. A lender that delivers a loan to us using such altered documentation must make a number of non-standard document warranties related to various provisions in the document. The specific warranties are set out in the Selling Guide. Further, a party that makes alterations that we have not specifically authorized (other than ministerial changes such as format changes related to recording requirements) must include a specific notation indicating that the form has been modified by that party, i.e., "modified by ABC".
The Spanish translations of mortgage documents made available here include translations of various Fannie Mae/Freddie Mac Uniform Instruments, jointly owned with Freddie Mac, as well as translations of certain Fannie Mae proprietary mortgage documents ("Spanish Translations").
Users may reproduce and distribute the Spanish Translations under the user's company name or logo (or without an identifying company name or logo), but the text should not be altered except as we authorize. Users making alterations not specifically authorized (other than ministerial changes such as format changes) must include a specific notation indicating that the Spanish Translation has been modified by that user, i.e., "modified by ABC."
Many states have statutes that allow originating lenders to record a Master Form in a given recording district and then to record a Short Form for any mortgage loan originated in that district after that time. The Short Form contains the loan-specific information (e.g., borrower name, lender name, loan amount, description of property, etc.) and identifies the provisions of the Master Form that are being incorporated into the Short Form. The borrower signs the Short Form document and any applicable riders, and the lender must provide the borrower with a copy of the recorded Master Form. Master Forms and Short Forms are available for the states that have authorized their use.