Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.
selling guide updates typically are published on the first Wednesday of the month.. View the link below for Selling Guide updates, Lender Letters, and DU/ DO.
Freddie Mac multifamily guide forms, and commonly used underwriting forms and other documents, are listed below. Seller/Servicer Guide (Guide) forms are also available on AllRegs®. Please note: The use of Guide forms by Optigo SM Lenders is subject to the terms and conditions of the Purchase Documents, as that term is defined in the Guide.
Fannie Mae previously revised the Selling Guide to allow delivery of HUD-guaranteed section 184 mortgage loans and Rural Development (RD)-Guaranteed Section 502 first-mortgage loans as standard products and communicated the update in Announcement SEL-2014-12: Selling Guide Updates.Prior to that revision, those products were eligible for delivery only on a negotiated basis.
The Multifamily Selling and Servicing Guide has been simplified and rewritten. We restructured the Guide to maximize delegation and deliver an improved customer experience. We updated our pre- review categories and defined our new underwriting requirements to provide maximum clarity — making it easier for you to deliver loans.
Lender may use the AMI limits for purposes of determining income eligibility for HomeReady or other loans that have AMI requirements. Each Lender must determine borrower and loan eligibility in accordance with the Selling Guide and its Lender Contract.
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While every effort has been made to ensure the reliability of the content in Ask Poli, Fannie Mae’s Selling Guide and its updates, including Guide Announcements and Release Notes, are the official statements of Fannie Mae’s policies and procedures, and should be adhered to in the event of discrepancies between information provided by this service and the Guides.
The Risk Advisory Board (RAB) helps to shape the credit policies of Fannie Mae, and provides input on process enhancements, as well as the GSE’s Selling Guide. The board is comprised of 18 senior risk.