assignment of sales contract fannie mae

B4-1.1-03, Appraiser Selection Criteria (10/05/2022)

Appraiser license and certification, appraiser trainees, knowledge and experience, selection of the appraiser, supervisory appraiser.

Fannie Mae requires a lender (or its authorized agent) to use appraisers or supervisory appraisers that are state-licensed or state-certified (in accordance with the provisions of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and all applicable state laws). The lender (or its authorized agent) must document that the appraisers it uses are licensed or certified as appropriate under the applicable state law. The lender must ensure that the state license or state certification is active as of the effective date of the appraisal report. The appraiser must note their license or certification number on the individual appraisal report forms, in compliance with the Uniform Appraisal Dataset Specification, Appendix D: Field-Specific Standardization Requirements.

Fannie Mae’s appraisal report forms identify the appraiser as the individual who

performed the analysis, and

prepared and signed the appraisal report as the appraiser.

This does not preclude appraisers from relying on individuals who are not state-licensed or state-certified to provide significant professional assistance, such as an appraiser trainee or an employee of the appraiser doing market data research or data verification in the development of the appraisal. Under some state laws, a lender’s use of an unlicensed or uncertified appraiser that is working as an employee or sub-contractor of a licensed or certified appraiser will satisfy the state’s licensing and certification requirement, as long as the appraisal report is signed by a state-licensed or state-certified supervisory or review appraiser. The state-licensed or state-certified appraiser that signs the appraisal report must acknowledge in the report the extent of the professional assistance provided by others and the specific tasks performed by each individual, and must certify that each named individual is qualified to perform the tasks.

Fannie Mae allows an unlicensed or uncertified appraiser, or trainee (or other similar classification) to perform a significant amount of the appraisal (or the entire appraisal if they are qualified to do so). If an unlicensed or uncertified individual provides significant professional assistance, they must sign the left side of the appraiser certification as the Appraiser if

they are working under the supervision of a state-licensed or state-certified appraiser as an employee or sub-contractor,

the right side of the appraiser certification is signed by that supervisory appraiser, and

it is acceptable under state law.

If the jurisdiction does not provide license numbers for trainees, the term “Trainee” should be entered in the “Other” field in the Appraiser Certification section.

Lenders must use appraisers that

have the requisite knowledge required to perform a professional quality appraisal for the specific geographic location and particular property type; and

have the requisite knowledge about, and access to, all necessary and appropriate local data sources for the subject property's geographic area, including multiple listing service(s) and government records.

Appraisers that are not familiar with specific real estate markets may not have adequate information available to perform a reliable appraisal. Although the Uniform Standards of Professional Appraisal Practice (USPAP) allows an appraiser that does not have the appropriate knowledge and experience to accept an appraisal assignment by providing procedures with which the appraiser can complete the assignment, Fannie Mae does not allow the USPAP flexibility.

is responsible for the selection of appraisers and for the qualifications and quality of work provided by the appraisers that are selected;

may not use appraisals ordered or received by borrowers or other parties with an interest in the transaction, such as the property seller or real estate agent. Fannie Mae does allow lenders to use third-party vendors (for example, appraisal management companies) to manage the appraiser selection process. However, it should be noted that if a lender enters into a contract with any vendor, contractor, or third-party service provider, the lender is accountable for the quality of the work performed as if it was performed by an employee of the lender.

The lender (or its authorized agent)

must establish policies and procedures to ensure that qualified individuals are being selected in accordance with Fannie Mae requirements, including the Appraiser Independence Requirements .

must ensure that an appraiser has demonstrated the ability to perform high-quality appraisals before using an appraiser’s services. The quality of an appraiser’s work is a key criterion that must be used in determining which appraiser the lender (or its authorized agent) uses for its assignments. The requirement for an appraiser to produce a high-quality work product must always outweigh fee or turnaround time considerations.

Delegating these responsibilities to a third party does not relieve the lender of its responsibilities related to the appraisal or the value, condition, and marketability of the property. See B4-1.3-12, Appraisal Quality Matters B4-1.3-12, Appraisal Quality Matters , for information related to ongoing review of appraisals.

Note : Fannie Mae does not approve appraisers. Therefore, when selecting appraisers, lenders must not give any consideration to an appraiser’s representation that they are approved or qualified by Fannie Mae.

As noted in the License and Certification section in this topic, Fannie Mae allows an unlicensed or uncertified appraiser, or trainee (or other similar classification) that works as an employee or subcontractor of a licensed or certified appraiser, to perform a significant amount of the appraisal (or the entire appraisal if they are qualified to do so), as long as the appraisal report is signed by a licensed or certified supervisory or review appraiser and is acceptable under state law.

If a supervisory appraiser is used, the supervisory appraiser does not need to physically inspect the subject property or comparables, but must sign the right side of the report and certify that they

directly supervised the appraiser that prepared the appraisal report,

have reviewed the appraisal report,

agree with the statements and conclusions of the appraiser,

agree to be bound by certifications as set forth in Fannie Mae’s appraisal report forms, and

take full responsibility for the appraisal report.

A supervisory appraiser may not sign the left-hand side of the appraisal report unless they have met the requirements of the appraiser as noted in the License and Certification section in this topic.

The table below provides references to recently issued Announcements that are related to this topic.

Announcements	Issue Date
	October 05, 2022
	February 02, 2022

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(Published: June 05 2024)

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Copyright and Preface
A1-1-01, Application and Approval of Seller/Servicer
A2-1-01, Contractual Obligations for Sellers/Servicers
A2-1-02, Nature of Mortgage Transaction
A2-1-03, Indemnification for Losses
A2-2-01, Representations and Warranties Overview
A2-2-02, Delivery Information and Delivery-Option Specific Representations and Warranties
A2-2-03, Document Warranties
A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties
A2-2-05, Invalidation of Limited Waiver of Representations and Warranties
A2-2-06, Representations and Warranties on Property Value
A2-2-07, Life-of-Loan Representations and Warranties
A2-3.1-01, Lender Breach of Contract
A2-3.1-02, Sanctions, Suspensions, and Terminations
A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae
A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility
A2-3.2-03, Remedies Framework
A2-3.3-01, Compensatory Fees
A2-4.1-01, Establishing Loan Files
A2-4.1-02, Ownership and Retention of Loan Files and Records
A2-4.1-03, Electronic Records, Signatures, and Transactions
A2-4.1-04, Notarization Standards
A2-5-01, Fannie Mae Trade Name and Trademarks
A3-1-01, Fannie Mae’s Technology Products
A3-2-01, Compliance With Laws
A3-2-02, Responsible Lending Practices
A3-3-01, Outsourcing of Mortgage Processing and Third-Party Originations
A3-3-02, Concurrent Servicing Transfers
A3-3-03, Other Servicing Arrangements
A3-3-04, Document Custodians
A3-3-05, Custody of Mortgage Documents
A3-4-01, Confidentiality of Information
A3-4-02, Data Quality and Integrity
A3-4-03, Preventing, Detecting, and Reporting Mortgage Fraud
A3-5-01, Fidelity Bond and Errors and Omissions Coverage Provisions
A3-5-02, Fidelity Bond Policy Requirements
A3-5-03, Errors and Omissions Policy Requirements
A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events
A4-1-01, Maintaining Seller/Servicer Eligibility
A4-1-02, Submission of Financial Statements and Reports
A4-1-03, Report of Changes in the Seller/Servicer’s Organization
A4-1-04, Submission of Irrevocable Limited Powers of Attorney
B1-1-01, Contents of the Application Package
B1-1-02, Blanket Authorization Form
B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns
B2-1.1-01, Occupancy Types
B2-1.2-01, Loan-to-Value (LTV) Ratios
B2-1.2-02, Combined Loan-to-Value (CLTV) Ratios
B2-1.2-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios
B2-1.2-04, Subordinate Financing
B2-1.3-01, Purchase Transactions
B2-1.3-02, Limited Cash-Out Refinance Transactions
B2-1.3-03, Cash-Out Refinance Transactions
B2-1.3-04, Prohibited Refinancing Practices
B2-1.3-05, Payoff of Installment Land Contract Requirements
B2-1.4-01, Fixed-Rate Loans
B2-1.4-02, Adjustable-Rate Mortgages (ARMs)
B2-1.4-03, Convertible ARMs
B2-1.4-04, Temporary Interest Rate Buydowns
B2-1.5-01, Loan Limits
B2-1.5-02, Loan Eligibility
B2-1.5-03, Legal Requirements
B2-1.5-04, Escrow Accounts
B2-1.5-05, Principal Curtailments
B2-2-01, General Borrower Eligibility Requirements
B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements
B2-2-03, Multiple Financed Properties for the Same Borrower
B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction
B2-2-05, Inter Vivos Revocable Trusts
B2-2-06, Homeownership Education and Housing Counseling
B2-2-07, First-Generation Homebuyer Loans
B2-3-01, General Property Eligibility
B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing
B2-3-03, Special Property Eligibility and Underwriting Considerations: Leasehold Estates
B2-3-04, Special Property Eligibility Considerations
B2-3-05, Properties Affected by a Disaster
B3-1-01, Comprehensive Risk Assessment
B3-2-01, General Information on DU
B3-2-02, DU Validation Service
B3-2-03, Risk Factors Evaluated by DU
B3-2-04, DU Documentation Requirements
B3-2-05, Approve/Eligible Recommendations
B3-2-06, Approve/Ineligible Recommendations
B3-2-07, Refer with Caution Recommendations
B3-2-08, Out of Scope Recommendations
B3-2-09, Erroneous Credit Report Data
B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report
B3-2-11, DU Underwriting Findings Report
B3-3.1-01, General Income Information
B3-3.1-02, Standards for Employment Documentation
B3-3.1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income
B3-3.1-04, Commission Income
B3-3.1-05, Secondary Employment Income (Second Job and Multiple Jobs) and Seasonal Income
B3-3.1-06, Requirements and Uses of IRS IVES Request for Transcript of Tax Return Form 4506-C
B3-3.1-07, Verbal Verification of Employment
B3-3.1-08, Rental Income
B3-3.1-09, Other Sources of Income
B3-3.1-10, Income Calculator
B3-3.2-01, Underwriting Factors and Documentation for a Self-Employed Borrower
B3-3.2-02, Business Structures
B3-3.2-03, IRS Forms Quick Reference
B3-3.3-01, General Information on Analyzing Individual Tax Returns
B3-3.3-02, Income Reported on IRS Form 1040
B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule C
B3-3.3-04, Income or Loss Reported on IRS Form 1040, Schedule D
B3-3.3-05, Income or Loss Reported on IRS Form 1040, Schedule E
B3-3.3-06, Income or Loss Reported on IRS Form 1040, Schedule F
B3-3.3-07, Income or Loss Reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1
B3-3.4-01, Analyzing Partnership Returns for a Partnership or LLC
B3-3.4-02, Analyzing Returns for an S Corporation
B3-3.4-03, Analyzing Returns for a Corporation
B3-3.4-04, Analyzing Profit and Loss Statements
B3-3.5-01, Income and Employment Documentation for DU
B3-3.5-02, Income from Rental Property in DU
B3-4.1-01, Minimum Reserve Requirements
B3-4.1-02, Interested Party Contributions (IPCs)
B3-4.1-03, Types of Interested Party Contributions (IPCs)
B3-4.1-04, Virtual Currency
B3-4.2-01, Verification of Deposits and Assets
B3-4.2-02, Depository Accounts
B3-4.2-03, Individual Development Accounts
B3-4.2-04, Pooled Savings (Community Savings Funds)
B3-4.2-05, Foreign Assets
B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds
B3-4.3-02, Trust Accounts
B3-4.3-03, Retirement Accounts
B3-4.3-04, Personal Gifts
B3-4.3-05, Gifts of Equity
B3-4.3-06, Grants and Lender Contributions
B3-4.3-07, Disaster Relief Grants or Loans
B3-4.3-08, Employer Assistance
B3-4.3-09, Earnest Money Deposit
B3-4.3-10, Anticipated Sales Proceeds
B3-4.3-11, Trade Equity
B3-4.3-12, Rent Credit for Option to Purchase
B3-4.3-13, Sweat Equity
B3-4.3-14, Bridge/Swing Loans
B3-4.3-15, Borrowed Funds Secured by an Asset
B3-4.3-16, Credit Card Financing and Reward Points
B3-4.3-17, Personal Unsecured Loans
B3-4.3-18, Sale of Personal Assets
B3-4.3-19, Cash Value of Life Insurance
B3-4.3-20, Anticipated Savings and Cash-on-Hand
B3-4.3-21, Borrower's Earned Real Estate Commission
B3-4.4-01, DU Asset Verification
B3-4.4-02, Requirements for Certain Assets in DU
B3-5.1-01, General Requirements for Credit Scores
B3-5.1-02, Determining the Credit Score for a Mortgage Loan
B3-5.2-01, Requirements for Credit Reports
B3-5.2-02, Types of Credit Reports
B3-5.2-03, Accuracy of Credit Information in a Credit Report
B3-5.3-01, Number and Age of Accounts
B3-5.3-02, Payment History
B3-5.3-03, Previous Mortgage Payment History
B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit
B3-5.3-05, Credit Utilization
B3-5.3-06, Authorized Users of Credit
B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit
B3-5.3-08, Extenuating Circumstances for Derogatory Credit
B3-5.3-09, DU Credit Report Analysis
B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit
B3-5.4-02, Number and Types of Nontraditional Credit References
B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History
B3-6-01, General Information on Liabilities
B3-6-02, Debt-to-Income Ratios
B3-6-03, Monthly Housing Expense for the Subject Property
B3-6-04, Qualifying Payment Requirements
B3-6-05, Monthly Debt Obligations
B3-6-06, Qualifying Impact of Other Real Estate Owned
B3-6-07, Debts Paid Off At or Prior to Closing
B3-6-08, DU: Requirements for Liability Assessment
B4-1.1-01, Definition of Market Value
B4-1.1-02, Lender Responsibilities
B4-1.1-03, Appraiser Selection Criteria
B4-1.1-04, Unacceptable Appraisal Practices
B4-1.1-05, Disclosure of Information to Appraisers
B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP)
B4-1.2-01, Appraisal Report Forms and Exhibits
B4-1.2-02, Desktop Appraisals
B4-1.2-03, Hybrid Appraisals
B4-1.2-04, Appraisal Age and Use Requirements
B4-1.2-05, Requirements for Verifying Completion and Postponed Improvements
B4-1.3-01, Review of the Appraisal Report
B4-1.3-02, Subject and Contract Sections of the Appraisal Report
B4-1.3-03, Neighborhood Section of the Appraisal Report
B4-1.3-04, Site Section of the Appraisal Report
B4-1.3-05, Improvements Section of the Appraisal Report
B4-1.3-06, Property Condition and Quality of Construction of the Improvements
B4-1.3-07, Sales Comparison Approach Section of the Appraisal Report
B4-1.3-08, Comparable Sales
B4-1.3-09, Adjustments to Comparable Sales
B4-1.3-10, Cost and Income Approach to Value
B4-1.3-11, Valuation Analysis and Reconciliation
B4-1.3-12, Appraisal Quality Matters
B4-1.4-01, Factory-Built Housing: Manufactured Housing
B4-1.4-02, Factory-Built Housing: Modular, Prefabricated, Panelized, or Sectional Housing
B4-1.4-03, Condo Appraisal Requirements
B4-1.4-04, Co-op Appraisal Requirements
B4-1.4-05, Leasehold Interests Appraisal Requirements
B4-1.4-06, Community Land Trust Appraisal Requirements
B4-1.4-07, Mixed-Use Property Appraisal Requirements
B4-1.4-08, Environmental Hazards Appraisal Requirements
B4-1.4-09, Special Assessment or Community Facilities Districts Appraisal Requirements
B4-1.4-10, Value Acceptance (Appraisal Waiver)
B4-1.4-11, Value Acceptance + Property Data
B4-2.1-01, General Information on Project Standards
B4-2.1-02, Waiver of Project Review
B4-2.1-03, Ineligible Projects
B4-2.1-04, Environmental Hazard Assessments
B4-2.1-05, Unacceptable Environmental Hazards
B4-2.1-06, Remedial Actions for Environmental Hazard Assessments Below Standards
B4-2.2-01, Limited Review Process
B4-2.2-02, Full Review Process
B4-2.2-03, Full Review: Additional Eligibility Requirements for Units in New and Newly Converted Condo Projects
B4-2.2-04, Geographic-Specific Condo Project Considerations
B4-2.2-05, FHA-Approved Condo Review Eligibility
B4-2.2-06, Project Eligibility Review Service (PERS)
B4-2.2-07, Projects with Special Considerations and Project Eligibility Waivers
B4-2.3-01, Eligibility Requirements for Units in PUD Projects
B4-2.3-02, Co-op Project Eligibility
B4-2.3-03, Legal Requirements for Co-op Projects
B4-2.3-04, Loan Eligibility for Co-op Share Loans
B4-2.3-05, Geographic-Specific Co-op Project Considerations
B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting
B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations
B5-2-01, Manufactured Housing
B5-2-02, Manufactured Housing Loan Eligibility
B5-2-03, Manufactured Housing Underwriting Requirements
B5-2-04, Manufactured Housing Pricing, Mortgage Insurance, and Loan Delivery Requirements
B5-2-05, Manufactured Housing Legal Considerations
B5-3.1-01, Conversion of Construction-to-Permanent Financing: Overview
B5-3.1-02, Conversion of Construction-to-Permanent Financing: Single-Closing Transactions
B5-3.1-03, Conversion of Construction-to-Permanent Financing: Two-Closing Transactions
B5-3.2-01, HomeStyle Renovation Mortgages
B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility
B5-3.2-03, HomeStyle Renovation Mortgages: Collateral Considerations
B5-3.2-04, HomeStyle Renovation Mortgages: Costs and Escrow Accounts
B5-3.2-05, HomeStyle Renovation Mortgages: Completion Certification
B5-3.2-06, HomeStyle Renovation: Renovation Contract, Renovation Loan Agreement, and Lien Waiver
B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties
B5-3.4-01, Property Assessed Clean Energy Loans
B5-4.1-01, Texas Section 50(a)(6) Loans
B5-4.1-02, Texas Section 50(a)(6) Loan Eligibility
B5-4.1-03, Texas Section 50(a)(6) Loan Underwriting, Collateral, and Closing Considerations
B5-4.1-04, Texas Section 50(a)(6) Loan Delivery and Servicing Considerations
B5-4.2-01, Native American Conventional Lending Initiative (NACLI)
B5-4.2-02, Disaster-Related Limited Cash-Out Refinance Flexibilities
B5-4.2-03, Loans Secured by HomePath Properties
B5-5.1-01, Community Seconds Loans
B5-5.1-02, Community Seconds Loan Eligibility
B5-5.1-03, Community Seconds: Shared Appreciation Transactions
B5-5.2-01, Loans With Resale Restrictions: General Information
B5-5.2-02, Loans with Resale Restrictions: Eligibility, Collateral and Delivery Requirements
B5-5.3-01, Shared Equity Overview
B5-5.3-02, Shared Equity Transactions: General Requirements
B5-5.3-03, Shared Equity Transactions: Eligibility, Underwriting and Collateral Requirements
B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility Requirements
B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility
B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements
B5-6-03, HomeReady Mortgage Loan Pricing, Mortgage Insurance, and Special Feature Codes
B5-7-01, High LTV Refinance Loan and Borrower Eligibility
B5-7-02, High LTV Refinance Underwriting, Documentation, and Collateral Requirements for the New Loan
B5-7-03, High LTV Refinance Alternative Qualification Path
B5-7-04, High LTV Refinance Representations and Warranties
B5-7-05, High LTV Refinance Pricing, Mortgage Insurance, and Special Feature Codes
B6-1-01, General Government Mortgage Loan Requirements
B6-1-02, Eligible FHA-Insured Mortgage Loans
B6-1-03, Eligible VA-Guaranteed Mortgages
B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages
B6-1-05, Eligible RD-Guaranteed Mortgages
B7-1-01, Provision of Mortgage Insurance
B7-1-02, Mortgage Insurance Coverage Requirements
B7-1-03, Lender-Purchased Mortgage Insurance
B7-1-04, Financed Borrower-Purchased Mortgage Insurance
B7-1-05, Government Mortgage Loan Guaranty or Insurance
B7-2-01, Provision of Title Insurance
B7-2-02, Title Insurer Requirements
B7-2-03, General Title Insurance Coverage
B7-2-04, Special Title Insurance Coverage Considerations
B7-2-05, Title Exceptions and Impediments
B7-2-06, Attorney Title Opinion Letter Requirements
B7-3-01, General Property Insurance Requirements for All Property Types
B7-3-02, Property Insurance Requirements for One-to Four-Unit Properties
B7-3-03, Master Property Insurance Requirements for Project Developments
B7-3-04, Individual Property Insurance Requirements for a Unit in a Project Development
B7-3-05, Additional Insurance Requirements
B7-3-06, Flood Insurance Requirements for All Property Types
B7-3-07, Evidence of Property Insurance
B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements
B7-4-01, General Liability Insurance Requirements for Project Developments
B7-4-02, Fidelity/Crime Insurance Requirements for Project Developments
B8-1-01, Publication of Legal Documents
B8-2-01, Security Instruments for Conventional Mortgages
B8-2-02, Special-Purpose Security Instruments
B8-2-03, Signature Requirements for Security Instruments
B8-3-01, Notes for Conventional Mortgages
B8-3-02, Special Note Provisions and Language Requirements
B8-3-03, Signature Requirements for Notes
B8-3-04, Note Endorsement
B8-4-01, Riders and Addenda
B8-5-01, General Information on Special-Purpose Legal Documents
B8-5-02, Inter Vivos Revocable Trust Mortgage Documentation and Signature Requirements
B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements
B8-5-04, Sample Legal Documents
B8-5-05, Requirements for Use of a Power of Attorney
B8-6-01, Authorized Use of Intervening and Blanket Assignments
B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc.
B8-8-01, General Information on eMortgages
B8-8-02, Requirements for Creating, Closing, and Correcting eNotes
C1-1-01, Execution Options
C1-2-01, General Information on Delivering Loan Data and Documents
C1-2-02, Loan Data and Documentation Delivery Requirements
C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests
C1-2-04, Delivering eMortgages to Fannie Mae
C1-2-05, Bailee Letters
C1-3-01, General Information on Remittance Types
C2-1.1-01, Mandatory Commitment Process
C2-1.1-02, General Information about Mandatory Commitment Pricing and Fees
C2-1.1-03, Mandatory Commitment Terms, Amounts, Periods and Other Requirements
C2-1.1-04, Mandatory Commitment Extensions and Pair-Offs
C2-1.1-05, Servicing Fees
C2-1.1-06, Accrued Interest Payments for Regularly Amortizing Mortgages
C2-1.1-07, Standard ARM and Converted ARM Resale Commitments
C2-1.2-01, Best Efforts Commitment Process
C2-1.2-02, Best Efforts Commitment Pricing, Periods, and Fees
C2-1.2-03, Best Efforts Commitment Terms, Amounts, and Other Requirements
C2-1.3-01, Servicing Marketplace
C2-2-01, General Requirements for Good Delivery of Whole Loans
C2-2-02, Documentation Requirements for Whole Loan Deliveries
C2-2-03, General Information on Whole Loan Purchasing Policies
C2-2-04, Timing of Distribution of Whole Loan Purchase Proceeds
C2-2-05, Whole Loan Purchasing Process
C2-2-06, Authorization to Transfer Funds
C2-2-07, Purchase Payee Codes
C3-1-01, General Information About Fannie Mae’s MBS Program
C3-1-02, Preparing to Pool Loans into MBS
C3-2-01, Determining Eligibility for Loans Pooled into MBS
C3-2-02, Selecting a Servicing Option
C3-2-03, MBS Remittance Type and Selecting a Remittance Cycle
C3-2-04, Mandatory MBS Commitments
C3-3-01, Determining and Remitting Guaranty Fees
C3-3-02, Accessing Buyup and Buydown Ratios and Calculating Payments or Charges
C3-3-03, Buying Up and Buying Down the Guaranty Fee for MBS
C3-4-01, Term-Related Fixed-Rate Mortgage Pooling Parameters
C3-5-01, Creating Weighted-Average ARM MBS
C3-5-02, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Fixed MBS Margin
C3-5-03, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Weighted-Average MBS Margin
C3-5-04, Pooling ARMs with a Conversion Option
C3-5-05, Commingling ARMs in MBS
C3-6-01, Parameters for Pooling Loans Into Fannie Majors
C3-7-01, Establishing an MBS Trading Account
C3-7-02, Initiating an MBS Sale
C3-7-03, Making Good Delivery
C3-7-04, Delivering MBS Pool Data and Documents
C3-7-05, Confirming Presettlement Information
C3-7-06, Settling the Trade
C3-7-07, Sale of Fannie Mae Securities to Third Parties
D1-1-01, Lender Quality Control Programs, Plans, and Processes
D1-1-02, Lender Quality Control Staffing and Outsourcing of the Quality Control Process
D1-2-01, Lender Prefunding Quality Control Review Process
D1-3-01, Lender Post-Closing Quality Control Review Process
D1-3-02, Lender Post-Closing Quality Control Review of Approval Conditions, Underwriting Decisions, and Documentation
D1-3-03, Lender Post-Closing Quality Control Review of Data Integrity
D1-3-04, Lender Post-Closing Quality Control Review of Appraisers, Appraisals, Property Data Collectors, and Property Data Collection
D1-3-05, Lender Post-Closing Quality Control Review of Closing Documents
D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit
D2-1-01, General Information on Fannie Mae QC Reviews
D2-1-02, Fannie Mae QC File Request and Submission Requirements
D2-1-03, Outcomes of Fannie Mae QC Reviews
D2-1-04, Identifying and Remedying Origination Defects Under the Remedies Framework
E-1-01, References to Fannie Mae's Website
E-1-02, List of Contacts
E-1-03, List of Lender Contracts
E-2-01, Required Custodial Documents
E-2-02, Suggested Format for Phase I Environmental Hazard Assessments
E-2-03, Revocable Trust Rider (Sample Language)
E-2-04, Signature Requirements for Mortgages to Inter Vivos Revocable Trusts
E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement
E-2-06, Correcting Errors in eNotes
E-2-07, Description of eNote Header, Footer, and eNote Clause
E-3-01, Acronyms and Glossary of Defined Terms: A
E-3-02, Acronyms and Glossary of Defined Terms: B
E-3-03, Acronyms and Glossary of Defined Terms: C
E-3-04, Acronyms and Glossary of Defined Terms: D
E-3-05, Acronyms and Glossary of Defined Terms: E
E-3-06, Acronyms and Glossary of Defined Terms: F
E-3-07, Acronyms and Glossary of Defined Terms: G
E-3-08, Acronyms and Glossary of Defined Terms: H
E-3-09, Acronyms and Glossary of Defined Terms: I
E-3-10, Acronyms and Glossary of Defined Terms: J
E-3-11, Acronyms and Glossary of Defined Terms: K
E-3-12, Acronyms and Glossary of Defined Terms: L
E-3-13, Acronyms and Glossary of Defined Terms: M
E-3-14, Acronyms and Glossary of Defined Terms: N
E-3-15, Acronyms and Glossary of Defined Terms: O
E-3-16, Acronyms and Glossary of Defined Terms: P
E-3-17, Acronyms and Glossary of Defined Terms: Q
E-3-18, Acronyms and Glossary of Defined Terms: R
E-3-19, Acronyms and Glossary of Defined Terms: S
E-3-20, Acronyms and Glossary of Defined Terms: T
E-3-21, Acronyms and Glossary of Defined Terms: U
E-3-22, Acronyms and Glossary of Defined Terms: V
E-3-23, Acronyms and Glossary of Defined Terms: W
E-3-24, Acronyms and Glossary of Defined Terms: X
E-3-25, Acronyms and Glossary of Defined Terms: Y
E-3-26, Acronyms and Glossary of Defined Terms: Z

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from cedar rapids, iowa
Member since Oct 18, 2013
cedar rapids, IA

Can you "assign" a contract to a buyer who is using conventional financing?

Just wanted to know if you can assign a contract to a conventional buyer? I assume you can but I hear the term "cash" buyers quite a bit in wholesaling examples. Thanks

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Suspended Counterparty Program

FHFA established the Suspended Counterparty Program to help address the risk to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (“the regulated entities”) presented by individuals and entities with a history of fraud or other financial misconduct. Under this program, FHFA may issue orders suspending an individual or entity from doing business with the regulated entities.

FHFA maintains a list at this page of each person that is currently suspended under the Suspended Counterparty Program.


YiHou Han	San Francisco	California	03/26/2024	Indefinite
Alex A. Dadourian	Granada Hills	California	02/08/2024	Indefinite
Tamara Dadyan	Encino	California	01/10/2024	Indefinite
Richard Ayvazyan	Encino	California	01/10/2024	Indefinite
Michael C. Jackson	Star	Idaho	01/10/2024	Indefinite

This page was last updated on 03/26/2024

A2-1-04, Execution of Legal Documents (09/09/2020)

Fannie mae’s limited power of attorney to execute documents, correcting conveyances to fannie mae.

The servicer ordinarily appears in the land records as the mortgagee to facilitate performance of the servicer’s contractual responsibilities, including, but not limited to, the receipt of legal notices that may impact Fannie Mae’s lien, such as notices of foreclosure, tax, and other liens. However, Fannie Mae may take any and all action with respect to the mortgage loan it deems necessary to protect its or an MBS trust’s ownership of the mortgage loan, including recording an assignment of mortgage, or its legal equivalent, from the servicer to Fannie Mae or its designee. In the event that Fannie Mae determines it necessary to record such an instrument, the servicer must assist Fannie Mae by

preparing and recording any required documentation, such as assignments of mortgages, powers of attorney, or affidavits; and
providing recordation information for the affected mortgage loans.

The servicer must follow the procedures in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents when sending documents for Fannie Mae’s execution.

The servicer is authorized to execute legal documents related to payoffs, foreclosures, releases of liability, releases of security, payment deferrals, mortgage loan modifications, subordinations, assignments of mortgages, and conveyances (or reconveyances) for any mortgage loan for which it (or MERS®) is the owner of record. When an instrument of record requires the use of an address for Fannie Mae, including assignments of mortgages, foreclosure deeds, REO deeds, and lien releases, the servicer must follow the procedures in Fannie Mae Contacts for Document Execution Requests in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents to locate the appropriate address.

When Fannie Mae is the owner of record for a mortgage loan, it permits the servicer that has Fannie Mae’s LPOA to execute certain types of legal documents on Fannie Mae’s behalf. The servicer must have an LPOA in place to be authorized to execute the following legal documents on behalf of Fannie Mae:

full satisfaction or release of a mortgage or the request to a trustee for a full reconveyance of a deed of trust;

partial release or discharge of a mortgage or the request to a trustee for a partial reconveyance or discharge of a deed of trust;

modification or extension of a mortgage or deed of trust;

subordination of the lien of a mortgage or deed of trust;

completion, termination, cancellation, or rescission of foreclosure relating to a mortgage or deed of trust, including, but not limited to, the following actions:

the appointment of a successor or substitute trustee under a deed of trust, in accordance with state law and the deed of trust;

the issuance or cancellation or rescission of notices of default;

the cancellation or rescission of notices of sale; and

the issuance of such other documents as may be necessary under the terms of the mortgage, deed of trust, or state law to expeditiously complete said transactions, including, but not limited to, assignments or endorsements of mortgages, deeds of trust, or promissory notes to convey title from Fannie Mae to the Attorney-in-Fact under this LPOA;

conveyance of properties to FHA, HUD, the VA, RD, or a state or private mortgage insurer; and

assignments or endorsements of mortgages, deeds of trust, or promissory notes to FHA, HUD, VA, RD, a state or private mortgage insurer, or MERS.

To request an LPOA, the servicer must follow the procedures in Requesting a Limited Power of Attorney in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents .

If the servicer does not have an LPOA to execute documents on Fannie Mae’s behalf, or has a power of attorney that does not authorize it to execute documents for a specific type of transaction, the servicer must send the documents requiring execution in any instance in which Fannie Mae is the owner of record for the mortgage loan by email, when permitted. If, however, an original document must be executed by Fannie Mae, the servicer must send the document by regular or overnight mail. The servicer must follow the procedures in Fannie Mae Contacts for Document Execution Requests in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents for instructions in sending documents to Fannie Mae.

The servicer must execute a quitclaim deed for properties that have been conveyed in error to Fannie Mae. The servicer must follow all procedures in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents when preparing the reconveyance quitclaim deed. A quitclaim deed is an instrument of conveyance of real property that passes whatever title, claim, or interest that the grantor has in the property, but does not make any representations as to the validity of such title. A quitclaim deed is not a guarantee that the grantor has clear title to the property; rather it is a relinquishment of the grantor’s rights, if any, in the property. The holder of a quitclaim deed receives only the interest owned by the person conveying the deed.

Fannie Mae will execute the quitclaim deed only if the servicer has prepared the document to quitclaim or assign back to the previous grantor or assignor. The servicer must send the request for quitclaim deed execution to Fannie Mae as described in Submitting a Reconveyance Quitclaim Deed in F-1-10, Obtaining and Executing Legal Documents F-1-10, Obtaining and Executing Legal Documents .

The table below provides references to recently issued Announcements that are related to this topic.

Announcements	Issue Date
	September 9, 2020

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Copyright and Preface
A1-1-01, Application and Approval of Seller/Servicer
A1-1-02, Representation and Warranty Requirements
A1-1-03, Evaluating a Servicer’s Performance
A1-2-01, Servicer’s Termination of the Lender Contract
A1-2-02, Fannie Mae’s Termination of the Lender Contract without Cause
A1-3-01, Requirements for Voluntary Repurchase
A1-3-02, Fannie Mae-Initiated Repurchases, Indemnifications, Make Whole Payment Requests and Deferred Payment Obligations
A1-3-03, Repurchase Obligations Related to Bifurcated Mortgage Loans
A1-3-04, Reporting the Repurchase
A1-3-05, Redelivering a Mortgage Loan
A1-3-06, Automatic Reclassification of MBS Mortgage Loans
A1-4.1-01, Defining a Breach of Contract
A1-4.1-02, Fannie Mae’s Remedies
A1-4.2-01, Compensatory Fees Other Than Delays in the Liquidation Process
A1-4.2-02, Compensatory Fees for Delays in the Liquidation Process
A2-1-01, General Servicer Duties and Responsibilities
A2-1-02, Servicer’s Duties and Responsibilities Related to MBS Mortgage Loans
A2-1-03, Servicer's Duties and Responsibilities Related to Mortgage Loans with Resale Restrictions or Shared Equity Transactions
A2-1-04, Execution of Legal Documents
A2-1-05, Note Holder Status for Legal Proceedings Conducted in the Servicer’s Name
A2-1-06, Use of Fannie Mae Trademarks
A2-1-07, Subservicing
A2-1-08, First Lien Mortgage Loan Requirements
A2-1-09, Compliance with Requirements and Laws
A2-2-01, Refinance and Lending Practices
A2-3-01, Servicer Compensation
A2-3-02, Servicing Fees for Portfolio and MBS Mortgage Loans
A2-3-03, Yield Differential Adjustments
A2-3-04, Late Charges as Compensation
A2-3-05, Fees for Certain Servicing Activities
A2-3-06, Prepayment Premiums
A2-4-01, Quality Control Reviews
A2-5-01, Ownership and Retention of Individual Mortgage Loan Files and Records
A2-6-01, Custodial Documents
A2-7-01, Concurrent Servicing Transfers
A2-7-02, Pledge of Servicing Rights and Transfer of Interest in Servicing Income
A2-7-03, Post-Delivery Servicing Transfers
A2-8-01, Mortgage Electronic Registration System
A2-9-01, General Requirements
A2-9-02, Special Provision for Puerto Rico
A3-1-01, Maintaining Fannie Mae Seller/Servicer Status
A4-1-01, Staffing, Training, Procedures, and Quality Control Requirements
A4-1-02, Establishing Custodial Bank Accounts
A4-1-03, Addressing Borrower Inquiries and Disputes
A4-2.1-01, Preventing Defaults and Managing Delinquencies
A4-2.1-02, Property Inspection Vendor Management and Oversight
A4-2.1-03, Managing Short Sales
A4-2.1-04, Establishing Contact with the Borrower
A4-2.1-05, Requirements for Collection and Foreclosure Prevention Strategies Unique to Second Lien Mortgage Loans
A4-2.1-06, Adverse Action Notification Certification
A4-2.1-07, Servicer's Duties and Responsibilities Related to Mortgage Loans with an Outstanding Non-Interest-Bearing Balance
A4-2.2-01, Selecting and Retaining Law Firms
A4-2.2-02, Law Firm Management and Oversight
A4-2.2-03, Prohibition Against Servicer-Specified Vendors for Fannie Mae Referrals, Use of Vendors, and Outsourcing Companies
A4-2.2-04, Law Firm Suspensions, Matter Transfers, and Terminations
B-1-01, Administering an Escrow Account and Paying Expenses
B-2-01, Property Insurance Requirements Applicable to All Property Types
B-2-02, Property Insurance Requirements for One- to Four-Unit Properties
B-2-03, Master Property Insurance Requirements for Project Developments
B-2-04, Individual Property Insurance Requirements for Units in Project Developments
B-3-01, Flood Insurance Requirements Applicable to All Property Types
B-4-01, Additional Insurance Requirements
B-5-01, Insured Loss Events
B-5-02, Uninsured Loss Events
B-6-01, Lender-Placed Insurance Requirements
B-7-01, General Liability Insurance Requirements for Project Developments
B-7-02, Fidelity/Crime Insurance Requirements for Project Developments
B-8.1-01, Conventional Mortgage Insurance Servicer Responsibilities
B-8.1-02, Paying Conventional Mortgage Insurance Premiums
B-8.1-03, Replacing Conventional Mortgage Insurance Policies
B-8.1-04, Termination of Conventional Mortgage Insurance
B-8.2-01, FHA Mortgage Insurance Coverage Requirements
B-8.2-02, Conversion of FHA Coinsured Mortgage Loans to Full Insurance
B-8.2-03, Termination or Cancellation of FHA Mortgage Insurance and FHA Mortgage Insurance Premium
C-1.1-01, Servicer Responsibilities for Processing Mortgage Loan Payments
C-1.1-02, Processing Payment Shortages or Funds Received When a Mortgage Loan Modification Is Pending
C-1.1-03, Automatically Drafting Payments from the Borrower’s Bank Account
C-1.1-04, Accepting Biweekly Payments from Third-Party Payment Contractors
C-1.2-01, Processing Additional Principal Payments
C-1.2-02, Processing Short Sale Proceeds
C-1.2-03, Processing Payments in Full
C-1.2-04, Satisfying the Mortgage Loan and Releasing the Lien
C-1.2-05, Charging for a Release of Lien
C-2.1-01, Responsibilities for ARM Loan Servicing
C-2.1-02, Notifying the Borrower Regarding Interest Rate and/or Payment Changes
C-2.2-01, Identifying and Disclosing Adjustment Errors
C-2.2-02, Assuming Responsibility for Conversion Notice Errors
C-2.2-03, Determining Whether to Provide a Refund or Credit for Overcharges
C-2.3-01, Processing ARM Conversions to Fixed Rate Mortgage Loans
C-2.3-02, Notifying Fannie Mae of Conversions for Portfolio Mortgage Loans
C-2.3-03, Repurchasing Converted MBS Mortgage Loans and Redelivering Them to Fannie Mae
C-3-01, Responsibilities Related to Remitting P&I Funds to Fannie Mae
C-3-02, Remitting Payoff Proceeds
C-4.1-01, Notifying Credit Repositories
C-4.2-01, Filing IRS Forms
C-4.3-01, Servicer Responsibilities Related to Investor Reporting
D1-1-01, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan
D1-1-02, Evaluating a First Lien Mortgage Loan for Charge-Off and Release of Lien
D1-1-03, Evaluating a Second Lien Mortgage Charge-Off
D1-2-01, Renovation Mortgage Loans
D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower
D1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted
D1-4.1-02, Allowable Exemptions Due to the Type of Transfer
D1-4.1-03, Allowable Exceptions Due to State Law Restrictions (“Window-Period” Mortgage Loans)
D1-4.1-04, Transfers of Ownership by Grant Deed
D1-4.1-05, Enforcing the Due-on-Sale (or Due-on-Transfer) Provision
D1-4.2-01, Conventional Mortgage Loans that Do Not Include a Due-on-Sale (or Due-on-Transfer) Provision
D1-4.2-02, Conventional Mortgage Loans That Include a Due- on-Sale (or Due-on-Transfer) Provision
D1-4.3-01, Transfers of Ownership on FHA and VA Mortgage Loans
D1-4.3-02, Transfers of Ownership on RD Mortgage Loans
D1-5-01, Call Options and Cross-Default Provisions
D1-6-01, Requesting to Waive Certain Rights under the Mortgage Loan
D1-6-02, Handling Notices of Liens, Legal Action, Other Actions Impacting Fannie Mae’s Interest
D1-6-03, Handling Property Forfeitures and Seizures
D2-1-01, Determining if the Borrower’s Mortgage Payment is in Imminent Default
D2-2-01, Achieving Quality Right Party Contact with a Borrower
D2-2-02, Outbound Contact Attempt Requirements
D2-2-03, Sending a Payment Reminder Notice
D2-2-04, Sending a Borrower a Solicitation Package for a Workout Option
D2-2-05, Receiving a Borrower Response Package
D2-2-06, Sending a Breach or Acceleration Letter
D2-2-07, Resolving an Appeal of a Mortgage Loan Modification Trial Period Plan Denial for a Principal Residence
D2-2-08, Interviewing Face-to-Face with a Borrower for Certain FHA and HUD Mortgage Loans
D2-2-09, Additional Borrower Contact Requirements for the Servicer of a Second Lien Mortgage Loan
D2-2-10, Requirements for Performing Property Inspections
D2-3.1-01, Determining the Appropriate Workout Option
D2-3.1-02, Conditions of a First and Second Lien Mortgage Loan Modification for an MBS Mortgage Loan
D2-3.1-03, Working with a Borrower that has a Group Home Mortgage Loan
D2-3.1-04, Offering a Workout Option When Also Servicing a Subordinate Lien Mortgage Loan
D2-3.1-05, Interacting with Mortgage Assistance Fund Program Providers
D2-3.1-06, Notifying Fannie Mae of Lead-Based Paint Citations
D2-3.2-01, Forbearance Plan
D2-3.2-02, Repayment Plan
D2-3.2-03, Government Mortgage Loan Modifications
D2-3.2-04, Payment Deferral
D2-3.2-05, Disaster Payment Deferral
D2-3.2-06, Fannie Mae Flex Modification
D2-3.3-01, Fannie Mae Short Sale
D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure)
D2-3.4-01, Military Indulgence
D2-3.4-02, Offering a Mortgage Release (Deed-in-Lieu of Foreclosure) for a Second Lien Mortgage Loan
D2-3.4-03, Assignment of a Mortgage Loan to the Insurer or Guarantor
D2-3.4-04, Qualifying Mortgage Assumption Workout Option
D2-4-01, Reporting a Delinquent Mortgage Loan to Fannie Mae
D2-4-02, Reporting a Workout Option to Fannie Mae
D2-4-03, Reporting Certain Workout Options to Treasury
E-1.1-01, General Requirements for Referring a Mortgage Loan to a Law Firm
E-1.1-02, Required Referral Documents
E-1.1-03, Required Referral Data
E-1.2-01, Timing of the Bankruptcy Referral
E-1.2-02, Timing of the Foreclosure Referral for Mortgage Loans Generally
E-1.2-03, Timing of the Foreclosure Referral for Second Lien Conventional Mortgage Loans Not Secured by a Principal Residence
E-1.2-04, Timing of the Foreclosure Referral for Government Mortgage Loans
E-1.3-01, General Servicer Responsibilities for Non-Routine Matters
E-1.3-02, Reporting Non-Routine Litigation to Fannie Mae
E-1.3-03, Reporting “Legal Filings” to MERS
E-2.1-01, General Servicing Requirements for Mortgage Loans Under Bankruptcy Protection
E-2.1-02, Confirming Bankruptcy Information
E-2.1-03, Suspending Debt Collection Efforts
E-2.1-04, Expected Servicer/Attorney Interaction During Bankruptcy Proceedings
E-2.1-05, Filing a Notice of Appearance and Sending Proper Notices
E-2.1-06, Reviewing Bankruptcy Reorganization Plans
E-2.1-07, Preparing and Filing a Proof of Claim
E-2.1-08, Monitoring Borrower Payments and Critical Dates
E-2.1-09, Identifying Workout Opportunities
E-2.1-10, Dealing with Delays in the Bankruptcy Process
E-2.1-11, Remitting P&I for MBS Mortgage Loans That Are Part of a Bankruptcy
E-2.2-01, Managing Chapter 7 Bankruptcies
E-2.2-02, Managing Chapter 11 Bankruptcies
E-2.2-03, Managing Chapter 12 Bankruptcies
E-2.2-04, Managing Chapter 13 Bankruptcies
E-2.3-01, Identifying Abusive Filers
E-2.3-02, Addressing Individuals with Fractional Interests in a Security Property
E-2.3-03, Handling Cramdowns of the Mortgage Debt
E-2.3-04, Bankruptcies Involving Mortgage Loans Secured by Investment Properties
E-2.3-05, Bankruptcies Involving Multiple Fannie Mae Mortgage Loans
E-2.3-06, Responding to Bankruptcies Identified After Foreclosure Sale
E-2.3-07, Cross-Border Insolvency Proceedings
E-3.1-01, General Servicing Requirements Related to Foreclosure Proceedings
E-3.1-02, Performing Due Diligence Prior to Considering Foreclosure
E-3.1-03, Fannie Mae Address for Instruments of Record
E-3.1-04, Addressing a Bankruptcy Filed During Active Foreclosure
E-3.2-01, Conducting Prereferral Review
E-3.2-02, Initiating Foreclosure Proceedings on a First Lien Conventional Mortgage Loan
E-3.2-03, Initiating Foreclosure Proceedings on a Second Lien Conventional Mortgage Loan
E-3.2-04, Postponing Foreclosure Referral for Mortgage Loans Not Secured by a Principal Residence
E-3.2-05, Expected Servicer/Attorney Interaction During Foreclosure Proceedings
E-3.2-06, Conducting Borrower Outreach During Foreclosure
E-3.2-07, Impact of Engagement with a Mortgage Assistance Fund Program Provider
E-3.2-08, Processing Reinstatements During Foreclosure
E-3.2-09, Conducting Foreclosure Proceedings
E-3.2-10, Paying Certain Expenses During the Foreclosure Process
E-3.2-11, Collecting Under an Assignment of Rents
E-3.2-12, Performing Property Preservation During Foreclosure Proceedings
E-3.2-13, Addressing Title Defects Generally
E-3.2-14, Addressing Title Defects for Bifurcated Mortgage Loans
E-3.2-15, Allowable Time Frames for Completing Foreclosure
E-3.3-01, Completing Preforeclosure Sale Review
E-3.3-02, Certifying the Status of Workout Negotiations Prior to Foreclosure Sale
E-3.3-03, Inspecting Properties Prior to Foreclosure Sale
E-3.3-04, Marketing the Foreclosure Sale and Using Foreclosure Auction Services
E-3.3-05, Issuing Bidding Instructions
E-3.3-06, Handling a Suspension or Reduction of the Redemption Period
E-3.3-07, Pursuing a Deficiency Judgment
E-3.4-01, Suspending Foreclosure Proceedings for Workout Negotiations
E-3.4-02, Canceling the Foreclosure Sale for a Completed Workout
E-3.5-01, Foreclosure of a Property Securing an MBS Mortgage Loan
E-3.5-02, Handling Third-Party Sales
E-3.5-03, Providing Evidence of Title
E-4.1-01, Notifying Fannie Mae of an Acquired Property
E-4.1-02, Eliminations and Rescissions of Foreclosure Sales
E-4.2-01, Completing Conveyance Documents
E-4.2-02, Handling Reconveyance to the Insurer or Guarantor
E-4.3-01, Managing the Property Post-Foreclosure Sale
E-4.3-02, Inspecting Properties Post-Foreclosure Sale
E-4.3-03, The Broker's, Agent's, or Property Management Company's Responsibilities
E-4.3-04, Handling Eviction Proceedings
E-4.4-01, Continuing or Canceling Property Insurance Coverage
E-4.4-02, Remitting Property Insurance Settlement Proceeds or Unearned Premium Refunds
E-4.4-03, Canceling Flood Insurance Coverage for Acquired Properties
E-4.4-04, Remitting Flood Insurance Settlement Proceeds or Unearned Premium Refunds
E-4.5-01, Filing MI Claims for Conventional Mortgage Loans or for Other Mortgage Loans for which Fannie Mae Bears the Risk of Loss
E-4.5-02, Filing MI Claims for FHA Mortgage Loans
E-4.5-03, Filing MI Claims for FHA Coinsured Mortgage Loans
E-4.5-04, Filing MI Claims for FHA Title I Loans
E-4.5-05, Filing MI Claims for HUD Section 184 Mortgage Loans
E-4.5-06, Filing MI Claims for VA Mortgage Loans
E-4.5-07, Filing MI Claims for RD Mortgage Loans
E-5-01, Requesting Reimbursement for Expenses
E-5-02, Servicer Responsibilities Prior to Requesting Reimbursement of Attorney Fees and Costs
E-5-03, Allowable Bankruptcy Fees
E-5-04, Allowable Foreclosure Fees
E-5-05, Reimbursing Law Firms/Reimbursement of Uncollected Fees, Costs or Advances
E-5-06, Technology Fees and Electronic Invoicing
E-5-07, Other Reimbursable Default-Related Legal Expenses
F-1-01, Servicing ARM Loans
F-1-02, Escrow, Taxes, Assessments, and Insurance
F-1-03, Establishing and Implementing Custodial Accounts
F-1-04, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan
F-1-05, Expense Reimbursement
F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property
F-1-07, Handling Property Forfeitures and Seizures
F-1-08, Managing Foreclosure Proceedings
F-1-09, Processing Mortgage Loan Payments and Payoffs
F-1-10, Obtaining and Executing Legal Documents
F-1-11, Post-Delivery Servicing Transfers
F-1-12, Preparing to Implement a Workout Option
F-1-13, Processing a Fannie Mae Mortgage Release (Deed-In-Lieu of Foreclosure)
F-1-14, Processing a Fannie Mae Short Sale
F-1-15, Processing a Government Mortgage Loan Modification
F-1-16, Processing a Repayment Plan
F-1-17, Processing a Transfer of Ownership
F-1-18, Processing a Workout Incentive Fee
F-1-19, Processing a Military Indulgence
F-1-20, Remitting and Accounting to Fannie Mae
F-1-21, Reporting a Delinquent Mortgage Loan via Fannie Mae’s Servicing Solutions System
F-1-22, Reporting a Workout Option via Fannie Mae’s Servicing Solutions System
F-1-23, Reporting to Third Parties
F-1-24, Requesting Fannie Mae’s Approval via Fannie Mae’s Servicing Solutions System
F-1-25, Reclassifying or Voluntary Repurchasing an MBS Mortgage Loan
F-1-26, Servicing eMortgages
F-1-27, Processing a Fannie Mae Flex Modification
F-1-28, Reviewing a Transfer of Ownership for Credit and Financial Capacity
F-2-01, Bankruptcy Referral and Completion Timelines
F-2-02, Incentive Fees for Workout Options
F-2-03, Compensatory Fee Calculation Examples
F-2-04, Firm Minimum Requirements
F-2-05, Historical Yield Differential Adjustment Provisions
F-2-06, Mortgage Insurer Delegations for Workout Options
F-2-07, Reporting the Principal Amount for Mortgage Loans with Principal Forbearance
F-2-08, Servicing Fees for MBS Mortgage Loans
F-2-09, Servicing Fees for Portfolio Mortgage Loans
F-2-10, Fannie Mae’s Workout Hierarchy
F-3-01, Acronyms and Glossary of Defined Terms: A
F-3-02, Acronyms and Glossary of Defined Terms: B
F-3-03, Acronyms and Glossary of Defined Terms: C
F-3-04, Acronyms and Glossary of Defined Terms: D
F-3-05, Acronyms and Glossary of Defined Terms: E
F-3-06, Acronyms and Glossary of Defined Terms: F
F-3-07, Acronyms and Glossary of Defined Terms: G
F-3-08, Acronyms and Glossary of Defined Terms: H
F-3-09, Acronyms and Glossary of Defined Terms: I
F-3-10, Acronyms and Glossary of Defined Terms: J
F-3-11, Acronyms and Glossary of Defined Terms: K
F-3-12, Acronyms and Glossary of Defined Terms: L
F-3-13, Acronyms and Glossary of Defined Terms: M
F-3-14, Acronyms and Glossary of Defined Terms: N
F-3-15, Acronyms and Glossary of Defined Terms: O
F-3-16, Acronyms and Glossary of Defined Terms: P
F-3-17, Acronyms and Glossary of Defined Terms: Q
F-3-18, Acronyms and Glossary of Defined Terms: R
F-3-19, Acronyms and Glossary of Defined Terms: S
F-3-20, Acronyms and Glossary of Defined Terms: T
F-3-21, Acronyms and Glossary of Defined Terms: U
F-3-22, Acronyms and Glossary of Defined Terms: V
F-3-23, Acronyms and Glossary of Defined Terms: W
F-3-24, Acronyms and Glossary of Defined Terms: X
F-3-25, Acronyms and Glossary of Defined Terms: Y
F-3-26, Acronyms and Glossary of Defined Terms: Z
F-4-01, References to Fannie Mae's Website
F-4-02, List of Contacts
F-4-03, List of Lender Contracts

Chapter B8-6, Mortgage Assignments

Mortgage assignments table of contents.

B8-6-01, Authorized Use of Intervening and Blanket Assignments

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Selling Guide

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(Published: June 05 2024)

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Copyright and Preface
A1-1-01, Application and Approval of Seller/Servicer
A2-1-01, Contractual Obligations for Sellers/Servicers
A2-1-02, Nature of Mortgage Transaction
A2-1-03, Indemnification for Losses
A2-2-01, Representations and Warranties Overview
A2-2-02, Delivery Information and Delivery-Option Specific Representations and Warranties
A2-2-03, Document Warranties
A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties
A2-2-05, Invalidation of Limited Waiver of Representations and Warranties
A2-2-06, Representations and Warranties on Property Value
A2-2-07, Life-of-Loan Representations and Warranties
A2-3.1-01, Lender Breach of Contract
A2-3.1-02, Sanctions, Suspensions, and Terminations
A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae
A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility
A2-3.2-03, Remedies Framework
A2-3.3-01, Compensatory Fees
A2-4.1-01, Establishing Loan Files
A2-4.1-02, Ownership and Retention of Loan Files and Records
A2-4.1-03, Electronic Records, Signatures, and Transactions
A2-4.1-04, Notarization Standards
A2-5-01, Fannie Mae Trade Name and Trademarks
A3-1-01, Fannie Mae’s Technology Products
A3-2-01, Compliance With Laws
A3-2-02, Responsible Lending Practices
A3-3-01, Outsourcing of Mortgage Processing and Third-Party Originations
A3-3-02, Concurrent Servicing Transfers
A3-3-03, Other Servicing Arrangements
A3-3-04, Document Custodians
A3-3-05, Custody of Mortgage Documents
A3-4-01, Confidentiality of Information
A3-4-02, Data Quality and Integrity
A3-4-03, Preventing, Detecting, and Reporting Mortgage Fraud
A3-5-01, Fidelity Bond and Errors and Omissions Coverage Provisions
A3-5-02, Fidelity Bond Policy Requirements
A3-5-03, Errors and Omissions Policy Requirements
A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events
A4-1-01, Maintaining Seller/Servicer Eligibility
A4-1-02, Submission of Financial Statements and Reports
A4-1-03, Report of Changes in the Seller/Servicer’s Organization
A4-1-04, Submission of Irrevocable Limited Powers of Attorney
B1-1-01, Contents of the Application Package
B1-1-02, Blanket Authorization Form
B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns
B2-1.1-01, Occupancy Types
B2-1.2-01, Loan-to-Value (LTV) Ratios
B2-1.2-02, Combined Loan-to-Value (CLTV) Ratios
B2-1.2-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios
B2-1.2-04, Subordinate Financing
B2-1.3-01, Purchase Transactions
B2-1.3-02, Limited Cash-Out Refinance Transactions
B2-1.3-03, Cash-Out Refinance Transactions
B2-1.3-04, Prohibited Refinancing Practices
B2-1.3-05, Payoff of Installment Land Contract Requirements
B2-1.4-01, Fixed-Rate Loans
B2-1.4-02, Adjustable-Rate Mortgages (ARMs)
B2-1.4-03, Convertible ARMs
B2-1.4-04, Temporary Interest Rate Buydowns
B2-1.5-01, Loan Limits
B2-1.5-02, Loan Eligibility
B2-1.5-03, Legal Requirements
B2-1.5-04, Escrow Accounts
B2-1.5-05, Principal Curtailments
B2-2-01, General Borrower Eligibility Requirements
B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements
B2-2-03, Multiple Financed Properties for the Same Borrower
B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction
B2-2-05, Inter Vivos Revocable Trusts
B2-2-06, Homeownership Education and Housing Counseling
B2-2-07, First-Generation Homebuyer Loans
B2-3-01, General Property Eligibility
B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing
B2-3-03, Special Property Eligibility and Underwriting Considerations: Leasehold Estates
B2-3-04, Special Property Eligibility Considerations
B2-3-05, Properties Affected by a Disaster
B3-1-01, Comprehensive Risk Assessment
B3-2-01, General Information on DU
B3-2-02, DU Validation Service
B3-2-03, Risk Factors Evaluated by DU
B3-2-04, DU Documentation Requirements
B3-2-05, Approve/Eligible Recommendations
B3-2-06, Approve/Ineligible Recommendations
B3-2-07, Refer with Caution Recommendations
B3-2-08, Out of Scope Recommendations
B3-2-09, Erroneous Credit Report Data
B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report
B3-2-11, DU Underwriting Findings Report
B3-3.1-01, General Income Information
B3-3.1-02, Standards for Employment Documentation
B3-3.1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income
B3-3.1-04, Commission Income
B3-3.1-05, Secondary Employment Income (Second Job and Multiple Jobs) and Seasonal Income
B3-3.1-06, Requirements and Uses of IRS IVES Request for Transcript of Tax Return Form 4506-C
B3-3.1-07, Verbal Verification of Employment
B3-3.1-08, Rental Income
B3-3.1-09, Other Sources of Income
B3-3.1-10, Income Calculator
B3-3.2-01, Underwriting Factors and Documentation for a Self-Employed Borrower
B3-3.2-02, Business Structures
B3-3.2-03, IRS Forms Quick Reference
B3-3.3-01, General Information on Analyzing Individual Tax Returns
B3-3.3-02, Income Reported on IRS Form 1040
B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule C
B3-3.3-04, Income or Loss Reported on IRS Form 1040, Schedule D
B3-3.3-05, Income or Loss Reported on IRS Form 1040, Schedule E
B3-3.3-06, Income or Loss Reported on IRS Form 1040, Schedule F
B3-3.3-07, Income or Loss Reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1
B3-3.4-01, Analyzing Partnership Returns for a Partnership or LLC
B3-3.4-02, Analyzing Returns for an S Corporation
B3-3.4-03, Analyzing Returns for a Corporation
B3-3.4-04, Analyzing Profit and Loss Statements
B3-3.5-01, Income and Employment Documentation for DU
B3-3.5-02, Income from Rental Property in DU
B3-4.1-01, Minimum Reserve Requirements
B3-4.1-02, Interested Party Contributions (IPCs)
B3-4.1-03, Types of Interested Party Contributions (IPCs)
B3-4.1-04, Virtual Currency
B3-4.2-01, Verification of Deposits and Assets
B3-4.2-02, Depository Accounts
B3-4.2-03, Individual Development Accounts
B3-4.2-04, Pooled Savings (Community Savings Funds)
B3-4.2-05, Foreign Assets
B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds
B3-4.3-02, Trust Accounts
B3-4.3-03, Retirement Accounts
B3-4.3-04, Personal Gifts
B3-4.3-05, Gifts of Equity
B3-4.3-06, Grants and Lender Contributions
B3-4.3-07, Disaster Relief Grants or Loans
B3-4.3-08, Employer Assistance
B3-4.3-09, Earnest Money Deposit
B3-4.3-10, Anticipated Sales Proceeds
B3-4.3-11, Trade Equity
B3-4.3-12, Rent Credit for Option to Purchase
B3-4.3-13, Sweat Equity
B3-4.3-14, Bridge/Swing Loans
B3-4.3-15, Borrowed Funds Secured by an Asset
B3-4.3-16, Credit Card Financing and Reward Points
B3-4.3-17, Personal Unsecured Loans
B3-4.3-18, Sale of Personal Assets
B3-4.3-19, Cash Value of Life Insurance
B3-4.3-20, Anticipated Savings and Cash-on-Hand
B3-4.3-21, Borrower's Earned Real Estate Commission
B3-4.4-01, DU Asset Verification
B3-4.4-02, Requirements for Certain Assets in DU
B3-5.1-01, General Requirements for Credit Scores
B3-5.1-02, Determining the Credit Score for a Mortgage Loan
B3-5.2-01, Requirements for Credit Reports
B3-5.2-02, Types of Credit Reports
B3-5.2-03, Accuracy of Credit Information in a Credit Report
B3-5.3-01, Number and Age of Accounts
B3-5.3-02, Payment History
B3-5.3-03, Previous Mortgage Payment History
B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit
B3-5.3-05, Credit Utilization
B3-5.3-06, Authorized Users of Credit
B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit
B3-5.3-08, Extenuating Circumstances for Derogatory Credit
B3-5.3-09, DU Credit Report Analysis
B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit
B3-5.4-02, Number and Types of Nontraditional Credit References
B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History
B3-6-01, General Information on Liabilities
B3-6-02, Debt-to-Income Ratios
B3-6-03, Monthly Housing Expense for the Subject Property
B3-6-04, Qualifying Payment Requirements
B3-6-05, Monthly Debt Obligations
B3-6-06, Qualifying Impact of Other Real Estate Owned
B3-6-07, Debts Paid Off At or Prior to Closing
B3-6-08, DU: Requirements for Liability Assessment
B4-1.1-01, Definition of Market Value
B4-1.1-02, Lender Responsibilities
B4-1.1-03, Appraiser Selection Criteria
B4-1.1-04, Unacceptable Appraisal Practices
B4-1.1-05, Disclosure of Information to Appraisers
B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP)
B4-1.2-01, Appraisal Report Forms and Exhibits
B4-1.2-02, Desktop Appraisals
B4-1.2-03, Hybrid Appraisals
B4-1.2-04, Appraisal Age and Use Requirements
B4-1.2-05, Requirements for Verifying Completion and Postponed Improvements
B4-1.3-01, Review of the Appraisal Report
B4-1.3-02, Subject and Contract Sections of the Appraisal Report
B4-1.3-03, Neighborhood Section of the Appraisal Report
B4-1.3-04, Site Section of the Appraisal Report
B4-1.3-05, Improvements Section of the Appraisal Report
B4-1.3-06, Property Condition and Quality of Construction of the Improvements
B4-1.3-07, Sales Comparison Approach Section of the Appraisal Report
B4-1.3-08, Comparable Sales
B4-1.3-09, Adjustments to Comparable Sales
B4-1.3-10, Cost and Income Approach to Value
B4-1.3-11, Valuation Analysis and Reconciliation
B4-1.3-12, Appraisal Quality Matters
B4-1.4-01, Factory-Built Housing: Manufactured Housing
B4-1.4-02, Factory-Built Housing: Modular, Prefabricated, Panelized, or Sectional Housing
B4-1.4-03, Condo Appraisal Requirements
B4-1.4-04, Co-op Appraisal Requirements
B4-1.4-05, Leasehold Interests Appraisal Requirements
B4-1.4-06, Community Land Trust Appraisal Requirements
B4-1.4-07, Mixed-Use Property Appraisal Requirements
B4-1.4-08, Environmental Hazards Appraisal Requirements
B4-1.4-09, Special Assessment or Community Facilities Districts Appraisal Requirements
B4-1.4-10, Value Acceptance (Appraisal Waiver)
B4-1.4-11, Value Acceptance + Property Data
B4-2.1-01, General Information on Project Standards
B4-2.1-02, Waiver of Project Review
B4-2.1-03, Ineligible Projects
B4-2.1-04, Environmental Hazard Assessments
B4-2.1-05, Unacceptable Environmental Hazards
B4-2.1-06, Remedial Actions for Environmental Hazard Assessments Below Standards
B4-2.2-01, Limited Review Process
B4-2.2-02, Full Review Process
B4-2.2-03, Full Review: Additional Eligibility Requirements for Units in New and Newly Converted Condo Projects
B4-2.2-04, Geographic-Specific Condo Project Considerations
B4-2.2-05, FHA-Approved Condo Review Eligibility
B4-2.2-06, Project Eligibility Review Service (PERS)
B4-2.2-07, Projects with Special Considerations and Project Eligibility Waivers
B4-2.3-01, Eligibility Requirements for Units in PUD Projects
B4-2.3-02, Co-op Project Eligibility
B4-2.3-03, Legal Requirements for Co-op Projects
B4-2.3-04, Loan Eligibility for Co-op Share Loans
B4-2.3-05, Geographic-Specific Co-op Project Considerations
B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting
B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations
B5-2-01, Manufactured Housing
B5-2-02, Manufactured Housing Loan Eligibility
B5-2-03, Manufactured Housing Underwriting Requirements
B5-2-04, Manufactured Housing Pricing, Mortgage Insurance, and Loan Delivery Requirements
B5-2-05, Manufactured Housing Legal Considerations
B5-3.1-01, Conversion of Construction-to-Permanent Financing: Overview
B5-3.1-02, Conversion of Construction-to-Permanent Financing: Single-Closing Transactions
B5-3.1-03, Conversion of Construction-to-Permanent Financing: Two-Closing Transactions
B5-3.2-01, HomeStyle Renovation Mortgages
B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility
B5-3.2-03, HomeStyle Renovation Mortgages: Collateral Considerations
B5-3.2-04, HomeStyle Renovation Mortgages: Costs and Escrow Accounts
B5-3.2-05, HomeStyle Renovation Mortgages: Completion Certification
B5-3.2-06, HomeStyle Renovation: Renovation Contract, Renovation Loan Agreement, and Lien Waiver
B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties
B5-3.4-01, Property Assessed Clean Energy Loans
B5-4.1-01, Texas Section 50(a)(6) Loans
B5-4.1-02, Texas Section 50(a)(6) Loan Eligibility
B5-4.1-03, Texas Section 50(a)(6) Loan Underwriting, Collateral, and Closing Considerations
B5-4.1-04, Texas Section 50(a)(6) Loan Delivery and Servicing Considerations
B5-4.2-01, Native American Conventional Lending Initiative (NACLI)
B5-4.2-02, Disaster-Related Limited Cash-Out Refinance Flexibilities
B5-4.2-03, Loans Secured by HomePath Properties
B5-5.1-01, Community Seconds Loans
B5-5.1-02, Community Seconds Loan Eligibility
B5-5.1-03, Community Seconds: Shared Appreciation Transactions
B5-5.2-01, Loans With Resale Restrictions: General Information
B5-5.2-02, Loans with Resale Restrictions: Eligibility, Collateral and Delivery Requirements
B5-5.3-01, Shared Equity Overview
B5-5.3-02, Shared Equity Transactions: General Requirements
B5-5.3-03, Shared Equity Transactions: Eligibility, Underwriting and Collateral Requirements
B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility Requirements
B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility
B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements
B5-6-03, HomeReady Mortgage Loan Pricing, Mortgage Insurance, and Special Feature Codes
B5-7-01, High LTV Refinance Loan and Borrower Eligibility
B5-7-02, High LTV Refinance Underwriting, Documentation, and Collateral Requirements for the New Loan
B5-7-03, High LTV Refinance Alternative Qualification Path
B5-7-04, High LTV Refinance Representations and Warranties
B5-7-05, High LTV Refinance Pricing, Mortgage Insurance, and Special Feature Codes
B6-1-01, General Government Mortgage Loan Requirements
B6-1-02, Eligible FHA-Insured Mortgage Loans
B6-1-03, Eligible VA-Guaranteed Mortgages
B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages
B6-1-05, Eligible RD-Guaranteed Mortgages
B7-1-01, Provision of Mortgage Insurance
B7-1-02, Mortgage Insurance Coverage Requirements
B7-1-03, Lender-Purchased Mortgage Insurance
B7-1-04, Financed Borrower-Purchased Mortgage Insurance
B7-1-05, Government Mortgage Loan Guaranty or Insurance
B7-2-01, Provision of Title Insurance
B7-2-02, Title Insurer Requirements
B7-2-03, General Title Insurance Coverage
B7-2-04, Special Title Insurance Coverage Considerations
B7-2-05, Title Exceptions and Impediments
B7-2-06, Attorney Title Opinion Letter Requirements
B7-3-01, General Property Insurance Requirements for All Property Types
B7-3-02, Property Insurance Requirements for One-to Four-Unit Properties
B7-3-03, Master Property Insurance Requirements for Project Developments
B7-3-04, Individual Property Insurance Requirements for a Unit in a Project Development
B7-3-05, Additional Insurance Requirements
B7-3-06, Flood Insurance Requirements for All Property Types
B7-3-07, Evidence of Property Insurance
B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements
B7-4-01, General Liability Insurance Requirements for Project Developments
B7-4-02, Fidelity/Crime Insurance Requirements for Project Developments
B8-1-01, Publication of Legal Documents
B8-2-01, Security Instruments for Conventional Mortgages
B8-2-02, Special-Purpose Security Instruments
B8-2-03, Signature Requirements for Security Instruments
B8-3-01, Notes for Conventional Mortgages
B8-3-02, Special Note Provisions and Language Requirements
B8-3-03, Signature Requirements for Notes
B8-3-04, Note Endorsement
B8-4-01, Riders and Addenda
B8-5-01, General Information on Special-Purpose Legal Documents
B8-5-02, Inter Vivos Revocable Trust Mortgage Documentation and Signature Requirements
B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements
B8-5-04, Sample Legal Documents
B8-5-05, Requirements for Use of a Power of Attorney
B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc.
B8-8-01, General Information on eMortgages
B8-8-02, Requirements for Creating, Closing, and Correcting eNotes
C1-1-01, Execution Options
C1-2-01, General Information on Delivering Loan Data and Documents
C1-2-02, Loan Data and Documentation Delivery Requirements
C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests
C1-2-04, Delivering eMortgages to Fannie Mae
C1-2-05, Bailee Letters
C1-3-01, General Information on Remittance Types
C2-1.1-01, Mandatory Commitment Process
C2-1.1-02, General Information about Mandatory Commitment Pricing and Fees
C2-1.1-03, Mandatory Commitment Terms, Amounts, Periods and Other Requirements
C2-1.1-04, Mandatory Commitment Extensions and Pair-Offs
C2-1.1-05, Servicing Fees
C2-1.1-06, Accrued Interest Payments for Regularly Amortizing Mortgages
C2-1.1-07, Standard ARM and Converted ARM Resale Commitments
C2-1.2-01, Best Efforts Commitment Process
C2-1.2-02, Best Efforts Commitment Pricing, Periods, and Fees
C2-1.2-03, Best Efforts Commitment Terms, Amounts, and Other Requirements
C2-1.3-01, Servicing Marketplace
C2-2-01, General Requirements for Good Delivery of Whole Loans
C2-2-02, Documentation Requirements for Whole Loan Deliveries
C2-2-03, General Information on Whole Loan Purchasing Policies
C2-2-04, Timing of Distribution of Whole Loan Purchase Proceeds
C2-2-05, Whole Loan Purchasing Process
C2-2-06, Authorization to Transfer Funds
C2-2-07, Purchase Payee Codes
C3-1-01, General Information About Fannie Mae’s MBS Program
C3-1-02, Preparing to Pool Loans into MBS
C3-2-01, Determining Eligibility for Loans Pooled into MBS
C3-2-02, Selecting a Servicing Option
C3-2-03, MBS Remittance Type and Selecting a Remittance Cycle
C3-2-04, Mandatory MBS Commitments
C3-3-01, Determining and Remitting Guaranty Fees
C3-3-02, Accessing Buyup and Buydown Ratios and Calculating Payments or Charges
C3-3-03, Buying Up and Buying Down the Guaranty Fee for MBS
C3-4-01, Term-Related Fixed-Rate Mortgage Pooling Parameters
C3-5-01, Creating Weighted-Average ARM MBS
C3-5-02, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Fixed MBS Margin
C3-5-03, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Weighted-Average MBS Margin
C3-5-04, Pooling ARMs with a Conversion Option
C3-5-05, Commingling ARMs in MBS
C3-6-01, Parameters for Pooling Loans Into Fannie Majors
C3-7-01, Establishing an MBS Trading Account
C3-7-02, Initiating an MBS Sale
C3-7-03, Making Good Delivery
C3-7-04, Delivering MBS Pool Data and Documents
C3-7-05, Confirming Presettlement Information
C3-7-06, Settling the Trade
C3-7-07, Sale of Fannie Mae Securities to Third Parties
D1-1-01, Lender Quality Control Programs, Plans, and Processes
D1-1-02, Lender Quality Control Staffing and Outsourcing of the Quality Control Process
D1-2-01, Lender Prefunding Quality Control Review Process
D1-3-01, Lender Post-Closing Quality Control Review Process
D1-3-02, Lender Post-Closing Quality Control Review of Approval Conditions, Underwriting Decisions, and Documentation
D1-3-03, Lender Post-Closing Quality Control Review of Data Integrity
D1-3-04, Lender Post-Closing Quality Control Review of Appraisers, Appraisals, Property Data Collectors, and Property Data Collection
D1-3-05, Lender Post-Closing Quality Control Review of Closing Documents
D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit
D2-1-01, General Information on Fannie Mae QC Reviews
D2-1-02, Fannie Mae QC File Request and Submission Requirements
D2-1-03, Outcomes of Fannie Mae QC Reviews
D2-1-04, Identifying and Remedying Origination Defects Under the Remedies Framework
E-1-01, References to Fannie Mae's Website
E-1-02, List of Contacts
E-1-03, List of Lender Contracts
E-2-01, Required Custodial Documents
E-2-02, Suggested Format for Phase I Environmental Hazard Assessments
E-2-03, Revocable Trust Rider (Sample Language)
E-2-04, Signature Requirements for Mortgages to Inter Vivos Revocable Trusts
E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement
E-2-06, Correcting Errors in eNotes
E-2-07, Description of eNote Header, Footer, and eNote Clause
E-3-01, Acronyms and Glossary of Defined Terms: A
E-3-02, Acronyms and Glossary of Defined Terms: B
E-3-03, Acronyms and Glossary of Defined Terms: C
E-3-04, Acronyms and Glossary of Defined Terms: D
E-3-05, Acronyms and Glossary of Defined Terms: E
E-3-06, Acronyms and Glossary of Defined Terms: F
E-3-07, Acronyms and Glossary of Defined Terms: G
E-3-08, Acronyms and Glossary of Defined Terms: H
E-3-09, Acronyms and Glossary of Defined Terms: I
E-3-10, Acronyms and Glossary of Defined Terms: J
E-3-11, Acronyms and Glossary of Defined Terms: K
E-3-12, Acronyms and Glossary of Defined Terms: L
E-3-13, Acronyms and Glossary of Defined Terms: M
E-3-14, Acronyms and Glossary of Defined Terms: N
E-3-15, Acronyms and Glossary of Defined Terms: O
E-3-16, Acronyms and Glossary of Defined Terms: P
E-3-17, Acronyms and Glossary of Defined Terms: Q
E-3-18, Acronyms and Glossary of Defined Terms: R
E-3-19, Acronyms and Glossary of Defined Terms: S
E-3-20, Acronyms and Glossary of Defined Terms: T
E-3-21, Acronyms and Glossary of Defined Terms: U
E-3-22, Acronyms and Glossary of Defined Terms: V
E-3-23, Acronyms and Glossary of Defined Terms: W
E-3-24, Acronyms and Glossary of Defined Terms: X
E-3-25, Acronyms and Glossary of Defined Terms: Y
E-3-26, Acronyms and Glossary of Defined Terms: Z

D1-4.2-02, Conventional Mortgage Loans That Include a Due- on-Sale (or Due-on-Transfer) Provision (11/08/2017)

Determining when to refer to the participating lender’s policy, non-exempt transactions: exceptions for certain loan types if the purchaser is creditworthy.

The servicer must refer to the participating lender’s policies for the following mortgage loans as Fannie Mae’s policies do not apply:

Participation pool mortgage loans held in portfolio that were purchased from a supervised lender under commitments dated before August 1, 1983.

Concurrent sales participation pool mortgage loans in which it holds a majority interest.

The servicer is authorized to allow transfers of ownership for the following first lien mortgage loans if all of the criteria listed below are satisfied:

All ARMs and GPARMs, except for the following:

those closed under ARM Plans 975, 1029, and 1103;

those that have extended fixed-rate periods (ARM Plans 659, 660, 661, 750, 751, 1423, 1437, 2724, 2725, 2726, 2727, 2728, 2729, 3223, 3224, 3225, 3226, 3227, 3228, 3252 (except as limited for those plans that may be used for Texas Section 50(a)(6) loans), if the transfer would take place during the fixed-rate period); and

those that have been converted to fixed-rate mortgage loans.

Fixed-rate portfolio mortgage loans that Fannie Mae purchased under commitment contracts dated before November 10, 1980 unless

the purchase of the property is financed directly or indirectly with wraparound or secondary financing from an institutional lender, or

Fannie Mae has pooled a mortgage loan originally held as a portfolio mortgage loan to back an MBS. Fannie Mae will notify the servicer when it does this.

The servicer must determine that all of the criteria listed in the following table are satisfied to approve a transfer of ownership.

✓	Criteria required to approve a transfer of ownership to a creditworthy purchaser
	The purchaser’s credit and financial capacity are acceptable under Fannie Mae’s current underwriting guidelines. See for additional information.
	The mortgage insurer approves the transfer and the mortgage insurer’s specified conditions are satisfied, if applicable. The servicer must follow the procedures in in for information on obtaining mortgage insurer approval.

Note: If the mortgage insurer denies the transfer or imposes conditions for approval, the servicer must inform the parties involved in the transaction of the mortgage insurer’s decision as its reason for not approving the request or the imposition of conditions for approval.

Before approving a transfer of ownership for a pledged-asset mortgage loan, the servicer must determine that the pledged asset will remain in place through the assignment of the original pledged asset or the substitution of a new asset of equivalent value. The servicer must contact its Fannie Mae Servicing Representative (see F-4-02, List of Contacts F-4-02, List of Contacts ) to discuss the acceptability of a substitute asset or any other alternative the purchaser proposes.

As second lien mortgage loans are not assumable under the existing terms, if the servicer of a second lien mortgage loan is notified that a prospective purchaser wishes to assume a second lien mortgage loan, it must advise the servicer of the first lien mortgage loan, the borrower, and the proposed property purchaser that the second lien mortgage loan debt will be accelerated if the transfer takes place. This is true even if Fannie Mae holds the first lien mortgage loan and allows it to be assumed under its existing terms. If the servicer learns of the transfer after the fact, it should notify all parties that the second lien mortgage loan is in default and that steps will be taken to accelerate the debt. The servicer must then contact its Fannie Mae Servicing Representative (see F-4-02, List of Contacts F-4-02, List of Contacts ) for approval of the acceleration.

If the transfer of ownership is not approved or the required eligibility criteria are not satisfied and the transfer of ownership occurs, the servicer must take all steps necessary to enforce the due-on-sale (or due-on-transfer) provision. If the funds required to satisfy the mortgage loan debt are not received after the mortgage loan is accelerated, the servicer must initiate foreclosure proceedings.

The servicer must follow the procedures in Completing a Transfer of Ownership in F-1-17, Processing a Transfer of Ownership F-1-17, Processing a Transfer of Ownership for detailed requirements related to executing the assumption (or assumption and release) agreement.

The servicer must notify the applicable property insurance companies, tax authorities, and any other interested parties. If the purchaser did not provide a new property insurance policy, the servicer must request the insurer to prepare an endorsement to the existing property insurance policy to name the new borrower.

There are no recently issued Announcements related to this topic.

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Servicing Guide

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(Published: May 08 2024 )

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Copyright and Preface
A1-1-01, Application and Approval of Seller/Servicer
A1-1-02, Representation and Warranty Requirements
A1-1-03, Evaluating a Servicer’s Performance
A1-2-01, Servicer’s Termination of the Lender Contract
A1-2-02, Fannie Mae’s Termination of the Lender Contract without Cause
A1-3-01, Requirements for Voluntary Repurchase
A1-3-02, Fannie Mae-Initiated Repurchases, Indemnifications, Make Whole Payment Requests and Deferred Payment Obligations
A1-3-03, Repurchase Obligations Related to Bifurcated Mortgage Loans
A1-3-04, Reporting the Repurchase
A1-3-05, Redelivering a Mortgage Loan
A1-3-06, Automatic Reclassification of MBS Mortgage Loans
A1-4.1-01, Defining a Breach of Contract
A1-4.1-02, Fannie Mae’s Remedies
A1-4.2-01, Compensatory Fees Other Than Delays in the Liquidation Process
A1-4.2-02, Compensatory Fees for Delays in the Liquidation Process
A2-1-01, General Servicer Duties and Responsibilities
A2-1-02, Servicer’s Duties and Responsibilities Related to MBS Mortgage Loans
A2-1-03, Servicer's Duties and Responsibilities Related to Mortgage Loans with Resale Restrictions or Shared Equity Transactions
A2-1-04, Execution of Legal Documents
A2-1-05, Note Holder Status for Legal Proceedings Conducted in the Servicer’s Name
A2-1-06, Use of Fannie Mae Trademarks
A2-1-07, Subservicing
A2-1-08, First Lien Mortgage Loan Requirements
A2-1-09, Compliance with Requirements and Laws
A2-2-01, Refinance and Lending Practices
A2-3-01, Servicer Compensation
A2-3-02, Servicing Fees for Portfolio and MBS Mortgage Loans
A2-3-03, Yield Differential Adjustments
A2-3-04, Late Charges as Compensation
A2-3-05, Fees for Certain Servicing Activities
A2-3-06, Prepayment Premiums
A2-4-01, Quality Control Reviews
A2-5-01, Ownership and Retention of Individual Mortgage Loan Files and Records
A2-6-01, Custodial Documents
A2-7-01, Concurrent Servicing Transfers
A2-7-02, Pledge of Servicing Rights and Transfer of Interest in Servicing Income
A2-7-03, Post-Delivery Servicing Transfers
A2-8-01, Mortgage Electronic Registration System
A2-9-01, General Requirements
A2-9-02, Special Provision for Puerto Rico
A3-1-01, Maintaining Fannie Mae Seller/Servicer Status
A4-1-01, Staffing, Training, Procedures, and Quality Control Requirements
A4-1-02, Establishing Custodial Bank Accounts
A4-1-03, Addressing Borrower Inquiries and Disputes
A4-2.1-01, Preventing Defaults and Managing Delinquencies
A4-2.1-02, Property Inspection Vendor Management and Oversight
A4-2.1-03, Managing Short Sales
A4-2.1-04, Establishing Contact with the Borrower
A4-2.1-05, Requirements for Collection and Foreclosure Prevention Strategies Unique to Second Lien Mortgage Loans
A4-2.1-06, Adverse Action Notification Certification
A4-2.1-07, Servicer's Duties and Responsibilities Related to Mortgage Loans with an Outstanding Non-Interest-Bearing Balance
A4-2.2-01, Selecting and Retaining Law Firms
A4-2.2-02, Law Firm Management and Oversight
A4-2.2-03, Prohibition Against Servicer-Specified Vendors for Fannie Mae Referrals, Use of Vendors, and Outsourcing Companies
A4-2.2-04, Law Firm Suspensions, Matter Transfers, and Terminations
B-1-01, Administering an Escrow Account and Paying Expenses
B-2-01, Property Insurance Requirements Applicable to All Property Types
B-2-02, Property Insurance Requirements for One- to Four-Unit Properties
B-2-03, Master Property Insurance Requirements for Project Developments
B-2-04, Individual Property Insurance Requirements for Units in Project Developments
B-3-01, Flood Insurance Requirements Applicable to All Property Types
B-4-01, Additional Insurance Requirements
B-5-01, Insured Loss Events
B-5-02, Uninsured Loss Events
B-6-01, Lender-Placed Insurance Requirements
B-7-01, General Liability Insurance Requirements for Project Developments
B-7-02, Fidelity/Crime Insurance Requirements for Project Developments
B-8.1-01, Conventional Mortgage Insurance Servicer Responsibilities
B-8.1-02, Paying Conventional Mortgage Insurance Premiums
B-8.1-03, Replacing Conventional Mortgage Insurance Policies
B-8.1-04, Termination of Conventional Mortgage Insurance
B-8.2-01, FHA Mortgage Insurance Coverage Requirements
B-8.2-02, Conversion of FHA Coinsured Mortgage Loans to Full Insurance
B-8.2-03, Termination or Cancellation of FHA Mortgage Insurance and FHA Mortgage Insurance Premium
C-1.1-01, Servicer Responsibilities for Processing Mortgage Loan Payments
C-1.1-02, Processing Payment Shortages or Funds Received When a Mortgage Loan Modification Is Pending
C-1.1-03, Automatically Drafting Payments from the Borrower’s Bank Account
C-1.1-04, Accepting Biweekly Payments from Third-Party Payment Contractors
C-1.2-01, Processing Additional Principal Payments
C-1.2-02, Processing Short Sale Proceeds
C-1.2-03, Processing Payments in Full
C-1.2-04, Satisfying the Mortgage Loan and Releasing the Lien
C-1.2-05, Charging for a Release of Lien
C-2.1-01, Responsibilities for ARM Loan Servicing
C-2.1-02, Notifying the Borrower Regarding Interest Rate and/or Payment Changes
C-2.2-01, Identifying and Disclosing Adjustment Errors
C-2.2-02, Assuming Responsibility for Conversion Notice Errors
C-2.2-03, Determining Whether to Provide a Refund or Credit for Overcharges
C-2.3-01, Processing ARM Conversions to Fixed Rate Mortgage Loans
C-2.3-02, Notifying Fannie Mae of Conversions for Portfolio Mortgage Loans
C-2.3-03, Repurchasing Converted MBS Mortgage Loans and Redelivering Them to Fannie Mae
C-3-01, Responsibilities Related to Remitting P&I Funds to Fannie Mae
C-3-02, Remitting Payoff Proceeds
C-4.1-01, Notifying Credit Repositories
C-4.2-01, Filing IRS Forms
C-4.3-01, Servicer Responsibilities Related to Investor Reporting
D1-1-01, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan
D1-1-02, Evaluating a First Lien Mortgage Loan for Charge-Off and Release of Lien
D1-1-03, Evaluating a Second Lien Mortgage Charge-Off
D1-2-01, Renovation Mortgage Loans
D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower
D1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted
D1-4.1-02, Allowable Exemptions Due to the Type of Transfer
D1-4.1-03, Allowable Exceptions Due to State Law Restrictions (“Window-Period” Mortgage Loans)
D1-4.1-04, Transfers of Ownership by Grant Deed
D1-4.1-05, Enforcing the Due-on-Sale (or Due-on-Transfer) Provision
D1-4.2-01, Conventional Mortgage Loans that Do Not Include a Due-on-Sale (or Due-on-Transfer) Provision
D1-4.2-02, Conventional Mortgage Loans That Include a Due- on-Sale (or Due-on-Transfer) Provision
D1-4.3-01, Transfers of Ownership on FHA and VA Mortgage Loans
D1-4.3-02, Transfers of Ownership on RD Mortgage Loans
D1-5-01, Call Options and Cross-Default Provisions
D1-6-01, Requesting to Waive Certain Rights under the Mortgage Loan
D1-6-02, Handling Notices of Liens, Legal Action, Other Actions Impacting Fannie Mae’s Interest
D1-6-03, Handling Property Forfeitures and Seizures
D2-1-01, Determining if the Borrower’s Mortgage Payment is in Imminent Default
D2-2-01, Achieving Quality Right Party Contact with a Borrower
D2-2-02, Outbound Contact Attempt Requirements
D2-2-03, Sending a Payment Reminder Notice
D2-2-04, Sending a Borrower a Solicitation Package for a Workout Option
D2-2-05, Receiving a Borrower Response Package
D2-2-06, Sending a Breach or Acceleration Letter
D2-2-07, Resolving an Appeal of a Mortgage Loan Modification Trial Period Plan Denial for a Principal Residence
D2-2-08, Interviewing Face-to-Face with a Borrower for Certain FHA and HUD Mortgage Loans
D2-2-09, Additional Borrower Contact Requirements for the Servicer of a Second Lien Mortgage Loan
D2-2-10, Requirements for Performing Property Inspections
D2-3.1-01, Determining the Appropriate Workout Option
D2-3.1-02, Conditions of a First and Second Lien Mortgage Loan Modification for an MBS Mortgage Loan
D2-3.1-03, Working with a Borrower that has a Group Home Mortgage Loan
D2-3.1-04, Offering a Workout Option When Also Servicing a Subordinate Lien Mortgage Loan
D2-3.1-05, Interacting with Mortgage Assistance Fund Program Providers
D2-3.1-06, Notifying Fannie Mae of Lead-Based Paint Citations
D2-3.2-01, Forbearance Plan
D2-3.2-02, Repayment Plan
D2-3.2-03, Government Mortgage Loan Modifications
D2-3.2-04, Payment Deferral
D2-3.2-05, Disaster Payment Deferral
D2-3.2-06, Fannie Mae Flex Modification
D2-3.3-01, Fannie Mae Short Sale
D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of Foreclosure)
D2-3.4-01, Military Indulgence
D2-3.4-02, Offering a Mortgage Release (Deed-in-Lieu of Foreclosure) for a Second Lien Mortgage Loan
D2-3.4-03, Assignment of a Mortgage Loan to the Insurer or Guarantor
D2-3.4-04, Qualifying Mortgage Assumption Workout Option
D2-4-01, Reporting a Delinquent Mortgage Loan to Fannie Mae
D2-4-02, Reporting a Workout Option to Fannie Mae
D2-4-03, Reporting Certain Workout Options to Treasury
E-1.1-01, General Requirements for Referring a Mortgage Loan to a Law Firm
E-1.1-02, Required Referral Documents
E-1.1-03, Required Referral Data
E-1.2-01, Timing of the Bankruptcy Referral
E-1.2-02, Timing of the Foreclosure Referral for Mortgage Loans Generally
E-1.2-03, Timing of the Foreclosure Referral for Second Lien Conventional Mortgage Loans Not Secured by a Principal Residence
E-1.2-04, Timing of the Foreclosure Referral for Government Mortgage Loans
E-1.3-01, General Servicer Responsibilities for Non-Routine Matters
E-1.3-02, Reporting Non-Routine Litigation to Fannie Mae
E-1.3-03, Reporting “Legal Filings” to MERS
E-2.1-01, General Servicing Requirements for Mortgage Loans Under Bankruptcy Protection
E-2.1-02, Confirming Bankruptcy Information
E-2.1-03, Suspending Debt Collection Efforts
E-2.1-04, Expected Servicer/Attorney Interaction During Bankruptcy Proceedings
E-2.1-05, Filing a Notice of Appearance and Sending Proper Notices
E-2.1-06, Reviewing Bankruptcy Reorganization Plans
E-2.1-07, Preparing and Filing a Proof of Claim
E-2.1-08, Monitoring Borrower Payments and Critical Dates
E-2.1-09, Identifying Workout Opportunities
E-2.1-10, Dealing with Delays in the Bankruptcy Process
E-2.1-11, Remitting P&I for MBS Mortgage Loans That Are Part of a Bankruptcy
E-2.2-01, Managing Chapter 7 Bankruptcies
E-2.2-02, Managing Chapter 11 Bankruptcies
E-2.2-03, Managing Chapter 12 Bankruptcies
E-2.2-04, Managing Chapter 13 Bankruptcies
E-2.3-01, Identifying Abusive Filers
E-2.3-02, Addressing Individuals with Fractional Interests in a Security Property
E-2.3-03, Handling Cramdowns of the Mortgage Debt
E-2.3-04, Bankruptcies Involving Mortgage Loans Secured by Investment Properties
E-2.3-05, Bankruptcies Involving Multiple Fannie Mae Mortgage Loans
E-2.3-06, Responding to Bankruptcies Identified After Foreclosure Sale
E-2.3-07, Cross-Border Insolvency Proceedings
E-3.1-01, General Servicing Requirements Related to Foreclosure Proceedings
E-3.1-02, Performing Due Diligence Prior to Considering Foreclosure
E-3.1-03, Fannie Mae Address for Instruments of Record
E-3.1-04, Addressing a Bankruptcy Filed During Active Foreclosure
E-3.2-01, Conducting Prereferral Review
E-3.2-02, Initiating Foreclosure Proceedings on a First Lien Conventional Mortgage Loan
E-3.2-03, Initiating Foreclosure Proceedings on a Second Lien Conventional Mortgage Loan
E-3.2-04, Postponing Foreclosure Referral for Mortgage Loans Not Secured by a Principal Residence
E-3.2-05, Expected Servicer/Attorney Interaction During Foreclosure Proceedings
E-3.2-06, Conducting Borrower Outreach During Foreclosure
E-3.2-07, Impact of Engagement with a Mortgage Assistance Fund Program Provider
E-3.2-08, Processing Reinstatements During Foreclosure
E-3.2-09, Conducting Foreclosure Proceedings
E-3.2-10, Paying Certain Expenses During the Foreclosure Process
E-3.2-11, Collecting Under an Assignment of Rents
E-3.2-12, Performing Property Preservation During Foreclosure Proceedings
E-3.2-13, Addressing Title Defects Generally
E-3.2-14, Addressing Title Defects for Bifurcated Mortgage Loans
E-3.2-15, Allowable Time Frames for Completing Foreclosure
E-3.3-01, Completing Preforeclosure Sale Review
E-3.3-02, Certifying the Status of Workout Negotiations Prior to Foreclosure Sale
E-3.3-03, Inspecting Properties Prior to Foreclosure Sale
E-3.3-04, Marketing the Foreclosure Sale and Using Foreclosure Auction Services
E-3.3-05, Issuing Bidding Instructions
E-3.3-06, Handling a Suspension or Reduction of the Redemption Period
E-3.3-07, Pursuing a Deficiency Judgment
E-3.4-01, Suspending Foreclosure Proceedings for Workout Negotiations
E-3.4-02, Canceling the Foreclosure Sale for a Completed Workout
E-3.5-01, Foreclosure of a Property Securing an MBS Mortgage Loan
E-3.5-02, Handling Third-Party Sales
E-3.5-03, Providing Evidence of Title
E-4.1-01, Notifying Fannie Mae of an Acquired Property
E-4.1-02, Eliminations and Rescissions of Foreclosure Sales
E-4.2-01, Completing Conveyance Documents
E-4.2-02, Handling Reconveyance to the Insurer or Guarantor
E-4.3-01, Managing the Property Post-Foreclosure Sale
E-4.3-02, Inspecting Properties Post-Foreclosure Sale
E-4.3-03, The Broker's, Agent's, or Property Management Company's Responsibilities
E-4.3-04, Handling Eviction Proceedings
E-4.4-01, Continuing or Canceling Property Insurance Coverage
E-4.4-02, Remitting Property Insurance Settlement Proceeds or Unearned Premium Refunds
E-4.4-03, Canceling Flood Insurance Coverage for Acquired Properties
E-4.4-04, Remitting Flood Insurance Settlement Proceeds or Unearned Premium Refunds
E-4.5-01, Filing MI Claims for Conventional Mortgage Loans or for Other Mortgage Loans for which Fannie Mae Bears the Risk of Loss
E-4.5-02, Filing MI Claims for FHA Mortgage Loans
E-4.5-03, Filing MI Claims for FHA Coinsured Mortgage Loans
E-4.5-04, Filing MI Claims for FHA Title I Loans
E-4.5-05, Filing MI Claims for HUD Section 184 Mortgage Loans
E-4.5-06, Filing MI Claims for VA Mortgage Loans
E-4.5-07, Filing MI Claims for RD Mortgage Loans
E-5-01, Requesting Reimbursement for Expenses
E-5-02, Servicer Responsibilities Prior to Requesting Reimbursement of Attorney Fees and Costs
E-5-03, Allowable Bankruptcy Fees
E-5-04, Allowable Foreclosure Fees
E-5-05, Reimbursing Law Firms/Reimbursement of Uncollected Fees, Costs or Advances
E-5-06, Technology Fees and Electronic Invoicing
E-5-07, Other Reimbursable Default-Related Legal Expenses
F-1-01, Servicing ARM Loans
F-1-02, Escrow, Taxes, Assessments, and Insurance
F-1-03, Establishing and Implementing Custodial Accounts
F-1-04, Evaluating a Request for the Release, or Partial Release, of Property Securing a Mortgage Loan
F-1-05, Expense Reimbursement
F-1-06, Filing an MI Claim for a Liquidated Mortgage Loan or Acquired Property
F-1-07, Handling Property Forfeitures and Seizures
F-1-08, Managing Foreclosure Proceedings
F-1-09, Processing Mortgage Loan Payments and Payoffs
F-1-10, Obtaining and Executing Legal Documents
F-1-11, Post-Delivery Servicing Transfers
F-1-12, Preparing to Implement a Workout Option
F-1-13, Processing a Fannie Mae Mortgage Release (Deed-In-Lieu of Foreclosure)
F-1-14, Processing a Fannie Mae Short Sale
F-1-15, Processing a Government Mortgage Loan Modification
F-1-16, Processing a Repayment Plan
F-1-17, Processing a Transfer of Ownership
F-1-18, Processing a Workout Incentive Fee
F-1-19, Processing a Military Indulgence
F-1-20, Remitting and Accounting to Fannie Mae
F-1-21, Reporting a Delinquent Mortgage Loan via Fannie Mae’s Servicing Solutions System
F-1-22, Reporting a Workout Option via Fannie Mae’s Servicing Solutions System
F-1-23, Reporting to Third Parties
F-1-24, Requesting Fannie Mae’s Approval via Fannie Mae’s Servicing Solutions System
F-1-25, Reclassifying or Voluntary Repurchasing an MBS Mortgage Loan
F-1-26, Servicing eMortgages
F-1-27, Processing a Fannie Mae Flex Modification
F-1-28, Reviewing a Transfer of Ownership for Credit and Financial Capacity
F-2-01, Bankruptcy Referral and Completion Timelines
F-2-02, Incentive Fees for Workout Options
F-2-03, Compensatory Fee Calculation Examples
F-2-04, Firm Minimum Requirements
F-2-05, Historical Yield Differential Adjustment Provisions
F-2-06, Mortgage Insurer Delegations for Workout Options
F-2-07, Reporting the Principal Amount for Mortgage Loans with Principal Forbearance
F-2-08, Servicing Fees for MBS Mortgage Loans
F-2-09, Servicing Fees for Portfolio Mortgage Loans
F-2-10, Fannie Mae’s Workout Hierarchy
F-3-01, Acronyms and Glossary of Defined Terms: A
F-3-02, Acronyms and Glossary of Defined Terms: B
F-3-03, Acronyms and Glossary of Defined Terms: C
F-3-04, Acronyms and Glossary of Defined Terms: D
F-3-05, Acronyms and Glossary of Defined Terms: E
F-3-06, Acronyms and Glossary of Defined Terms: F
F-3-07, Acronyms and Glossary of Defined Terms: G
F-3-08, Acronyms and Glossary of Defined Terms: H
F-3-09, Acronyms and Glossary of Defined Terms: I
F-3-10, Acronyms and Glossary of Defined Terms: J
F-3-11, Acronyms and Glossary of Defined Terms: K
F-3-12, Acronyms and Glossary of Defined Terms: L
F-3-13, Acronyms and Glossary of Defined Terms: M
F-3-14, Acronyms and Glossary of Defined Terms: N
F-3-15, Acronyms and Glossary of Defined Terms: O
F-3-16, Acronyms and Glossary of Defined Terms: P
F-3-17, Acronyms and Glossary of Defined Terms: Q
F-3-18, Acronyms and Glossary of Defined Terms: R
F-3-19, Acronyms and Glossary of Defined Terms: S
F-3-20, Acronyms and Glossary of Defined Terms: T
F-3-21, Acronyms and Glossary of Defined Terms: U
F-3-22, Acronyms and Glossary of Defined Terms: V
F-3-23, Acronyms and Glossary of Defined Terms: W
F-3-24, Acronyms and Glossary of Defined Terms: X
F-3-25, Acronyms and Glossary of Defined Terms: Y
F-3-26, Acronyms and Glossary of Defined Terms: Z
F-4-01, References to Fannie Mae's Website
F-4-02, List of Contacts
F-4-03, List of Lender Contracts

IMAGES

Click Here to View the Fannie Mae Selling Guide Announcement SEL-2018
Fannie Mae Selling Guide Update
Fannie Mae 2075 1997-2021
Fillable Online PDF Fannie Mae Residential Real Estate Purchase And
Click Here to View the Fannie Mae Selling Guide Announcement SEL-2019
Click here to view the Fannie Mae Selling Guide Announcement

VIDEO

part10[the evil within the assignment] [mari kita main game horror] (malay)
04.20.2024 AAA PITCHING HIGHLIGHTS vs Normal West HS (JV) Wildcats SHORT REEL
MAE Assignment Proposal Presentation -Group 12 (TP068202, TP070822, TP070823)
MAE Project Proposal Presentation (MeowMission)
Home Qualified’s Insider Network News
FHA 203k

COMMENTS

Subject and Contract Sections of the Appraisal Report
Fannie Mae's appraisal report forms require the appraiser to research and identify whether the subject property is currently for sale or if it has been offered for sale in the 12 months prior to the effective date of the appraisal by selecting either the 'Yes' or the 'No' checkbox. If the answer is 'No,' the data source (s) used ...
Lender Responsibilities
For most loans, Fannie Mae requires that the lender obtain a signed and complete appraisal report that accurately reflects the market value, condition, and marketability of the property. ... This documentation is especially important for transactions involving an assignment (or sale) of a contract for sale and back-to-back, simultaneous, double ...
Servicing Guide Announcement (SVC-2022-03) May 11, 2022
We encourage servicers to gain read-only access to DRA by visiting the Fannie Mae Technology Manager beginning Jul. 1, 2022. Law firms should direct any questions to their assigned Fannie Mae Firm Manager. Effective: This change is effective July 1, 2022. Any existing servicing directives related to the reporting of foreclosure and
Selling Guide
mortgages to Fannie Mae, or servicing mortgages for Fannie Mae. Fannie Mae may revoke these limited permissions by written notice to any or all Fannie Mae-approved users. A full version of this publication is also available on the AllRegs ® website of Mortgage Resource Center, Inc., ("MRC"), which posts this publication under license from ...
What is the appraiser required to include in the contract section of
enter an amount in the Contract Price field if the Assignment Type is a purchase transaction. Contract price must be the same as the sales price for the subject property in the Sales Comparison Approach section; enter a contract date if the Assignment Type is a purchase transaction; and; indicate if the property seller is the owner of record.
General Requirements
A2-9-01, General Requirements (05/11/2022) Fannie Mae, at its sole discretion and at any time, may require a servicer, at the servicer's expense, to prepare, execute, and/or record assignments of the mortgage to Fannie Mae. The mortgage assignments that it prepares must meet the requirements described in the following table.
Purchase Transactions
Fannie Mae allows non-arm's length transactions for the purchase of existing properties unless specifically forbidden for the particular scenario, such as delayed financing. ... E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement ; E-2-06, Correcting Errors in eNotes ; E-2-07, Description of eNote Header ...
Pledge of Servicing Rights and Transfer of Interest in ...
1. a pledge or grant of a security interest in the servicing rights to all or part of its Fannie Mae servicing portfolio, including mortgage loans in MBS pools (a "pledge of servicing"); 2. a sale, assignment, transfer, pledge, or hypothecation of all or any portion of its compensation in excess of the amount needed to service mortgage ...
E-2-05, Servicing Marketplace
E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement (12/15/2021) Introduction. This SERVICING MARKETPLACE - MORTGAGE LOAN SERVICING PURCHASE AND SALE AGREEMENT (this "Agreement"), is by and between a seller that sells the Mortgage Loan (as defined below) to Fannie Mae ("Seller"), and a servicer approved ...
Servicing Marketplace
This SERVICING MARKETPLACE - MORTGAGE LOAN SERVICING PURCHASE AND SALE AGREEMENT (this "Agreement"), is by and between a seller that sells the Mortgage Loan (as defined below) to Fannie Mae ("Seller"), and a servicer approved by Fannie Mae to service the Mortgage Loan sold to Fannie Mae ("Servicer"). RECITALS. 1.
Appraiser Selection Criteria
Fannie Mae does allow lenders to use third-party vendors (for example, appraisal management companies) to manage the appraiser selection process. However, it should be noted that if a lender enters into a contract with any vendor, contractor, or third-party service provider, the lender is accountable for the quality of the work performed as if ...
Obtaining and Executing Legal Documents
Maintain the recorded assignment of mortgage from Fannie Mae to the servicer in the individual mortgage loan file. ... Defining a Breach of Contract ; A1-4.1-02, Fannie Mae's Remedies ; Section A1-4.2, Imposition of Compensatory Fees ... Processing a Fannie Mae Short Sale ; F-1-15, Processing a Government Mortgage Loan Modification
Selling Guide Announcement (SEL-2024-04) June 5, 2024
B2-1.5-02, Loan Eligibility and B5-5.3-02, Shared Equity Transactions: General Requirements, to align with FHFA's final rule amending the Private Transfer Fee Regulation (12 CFR Part 1228).
Can you "assign" a contract to a buyer who is using ...
Accountant. cedar rapids, IA. Posted 10 years ago. Just wanted to know if you can assign a contract to a conventional buyer? I assume you can but I hear the term "cash" buyers quite a bit in wholesaling examples. Thanks. 0 Votes. Follow. 2 Replies.
Processing a Transfer of Ownership
execute the agreement on Fannie Mae's behalf if it has an assignment of mortgage; or ... for execution. Note: Once Fannie Mae returns the executed assignment of mortgage to the servicer, the servicer is authorized to execute the assumption or assumption and ... Fannie Mae Short Sale ; D2-3.3-02, Fannie Mae Mortgage Release (Deed-in-Lieu of ...
Suspended Counterparty Program
FHFA established the Suspended Counterparty Program to help address the risk to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks ("the regulated entities") presented by individuals and entities with a history of fraud or other financial misconduct. Under this program, FHFA may issue orders suspending an individual or entity from ...
Execution Options
For information on assignment of Fannie Mae whole loan or MBS commitments see A2-1-01, Contractual Obligations for Sellers/Servicers A2-1-01, ... E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement ; E-2-06, Correcting Errors in eNotes ; E-2-07, Description of eNote Header, Footer, and eNote Clause ...
Legal Requirements for Co-op Projects
Fannie Mae will also permit its lien to be subordinate to any assignment of rents or maintenance expenses in any mortgage or deed of trust that is secured by the co-op project, or any Regulatory Agreement entered into by the co-op corporation and the Secretary of HUD as a condition for obtaining HUD mortgage insurance. ... Sale of Fannie Mae ...
Execution of Legal Documents
The servicer must have an LPOA in place to be authorized to execute the following legal documents on behalf of Fannie Mae: assignments or endorsements of mortgages, deeds of trust, or promissory notes to FHA, HUD, VA, RD, a state or private mortgage insurer, or MERS. To request an LPOA, the servicer must follow the procedures in Requesting a ...
Defining a Breach of Contract
A1-4.1-01, Defining a Breach of Contract (06/21/2017) Any of the following events constitute a breach of the servicer's contractual obligations: the failure to take diligent action consistent with applicable law to foreclose any mortgage loan that is in default, whether or not resulting from the acts or omissions of a law firm or other person ...
Mortgage Assignments
Subpart A2, Lender Contract . Chapter A2-1, Contractual Obligations for Sellers/Servicers . A2-1-01, Contractual Obligations for Sellers/Servicers ... C3-7-07, Sale of Fannie Mae Securities to Third Parties ; Part D Ensuring Quality Control (QC) Subpart D1, Lender QC Process . Chapter D1-1, Lender Quality Control Process ...
Conventional Mortgage Loans That Include a Due- on-Sale ...
Fixed-rate portfolio mortgage loans that Fannie Mae purchased under commitment contracts dated before November 10, 1980 unless. the purchase of the property is financed directly or indirectly with wraparound or secondary financing from an institutional lender, or. Fannie Mae has pooled a mortgage loan originally held as a portfolio mortgage ...