Mortgage Insurers

Fannie Mae's Congressional Charter requires credit enhancement on mortgage loans it acquires with unpaid principal balances in excess of 80 percent of the mortgaged property’s value. This requirement is usually met by the provision of private mortgage insurance.

Revised GSE Rescission Relief Principles

Under the direction of the Federal Housing Finance Agency (FHFA), in September 2018, Fannie Mae and Freddie Mac issued new Government-sponsored Enterprise (GSE) Rescission Relief Principles (Principles) to the Mortgage Insurers (MIs). Subsequently, the GSEs worked with the MIs to revise their master policies to incorporate the Principles and those polices were implemented effective March 1, 2020.

Amended and Restated GSE Rescission Relief Principles

PMIERs Guidance 2021-01

Under the guidance of FHFA, Fannie Mae worked jointly with Freddie Mac to issue new guidance effective on various dates  that superseded and replaced PMIERs Guidance 2020-01. The COVID-19 Crisis Period in Section I expired on March 31, 2021, however loans that enter a COVID-19 forbearance on/after April 1, 2021 are eligible for capital relief for as long as they remain in such forbearance. The capital preservation period in Section II was extended from June 30, 2021 to December 31, 2021 with exceptions. And the quality control flexibility in Section IV.A. was extended through June 30, 2021.

PMIERS Guidance 2021-01 

PMIERs Guidance 2022-01

Under the guidance of FHFA, Fannie Mae worked jointly with Freddie Mac to issue new guidance effective June 30, 2022. This guidance supplements PMIERs Guidance 2021-01 and updates several sections as part of our on-going evaluation process.

PMIERs Guidance 2022-01