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.

View All Selling Policy Updates

Download PDF

Hint: Ask in a form of a question.

For best results, pose your search like a question.

Is a Paycheck Protection Program loan included in the DTI ratio?

Note: This FAQ comes from the published COVID-19, FAQs on Underwriting & General

Does the lender need to consider a Paycheck Protection Program (PPP) loan in the borrower’s DTI? 

Under the CARES Act, PPP loan terms allow deferred payments for a specified period, no personal loan guarantee, and the potential for all or some portion of the loan to be forgiven. Therefore, no payments would be expected to be included in the borrower’s liabilities at this time.  Once it has been determined that any portion of the PPP loan must be repaid, follow the Selling Guide requirements for loans paid by a business. 

For more information, refer to the published Lender Letter LL-2020-03, Impact of COVID-19 on Originations.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles

Does the tax deadline extension affect required documentation?

Note: This FAQ comes from the published COVID-19, FAQs on Underwriting & General.  Does the tax deadline extension issued as a result of the...

Read more

Do existing disaster policies in the Selling Guide apply to the COVID-19 pandemic? 

Note: This FAQ comes from the published COVID-19, FAQs on Underwriting & General. Do Fannie Mae’s existing disaster policies in the Selling...

Read more

Is income documentation required to be updated prior to closing during the pandemic?

Note: This FAQ comes from the published COVID-19, FAQs on Underwriting & General.  Given the unprecedented and rapid instances of voluntary...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.