Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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Is there a required sample size for the special discretionary selection when using the reverification flexibilities?

Note: This FAQ comes from the published COVID-19, FAQs on Quality Control.

Lender Letter LL-2020-03, Impact of COVID-19 on Originations requires a special discretionary selection if we utilize the reverification flexibilities. Is there a required sample size?

This sample should take into consideration the lender’s assessment of the risks, business source and volume.  Ensure the sample size selected is meaningful relative to the risk evaluation. As a reminder, reverifications are a critical element of the post close QC process in assessing the factualness of information that was replied upon in making the lending decision. 

For more information, see Lender Letter LL-2020-03, Impact of COVID-19 on Originations

 

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