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.

When a borrower refinances after a payment deferral, is the new loan considered a cash-out refinance or a limited cash-out refinance?

Note: This FAQ comes from the published COVID-19, FAQs on Temporary Purchase & Refinance Eligibility

When a borrower refinances after a payment deferral, is the new loan considered a cash-out refinance loan or a limited cash-out refinance loan (LCOR)? 

When a borrower refinances a loan that has a payment deferral and the amount of the deferred payments is included in the new loan, the new loan is eligible to be sold as an LCOR if it otherwise meets all of the requirements for an LCOR in the Selling Guide. Funds applied to pay off the prior loan, including the deferred portion, are not considered cash out.

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

How will the HUD Certification Label be obtained for appraisals on manufactured homes during the pandemic?

Note: This FAQ comes from the published COVID-19, FAQs on Appraisals.  Manufactured home appraisals require specific, and detailed information...

Read more

Are manufactured homes covered if there is no exterior-only appraisal form to support them during the pandemic? 

Note: This FAQ comes from the published COVID-19, FAQs on Appraisals.  Are manufactured homes and two- to four-unit properties covered even...

Read more

Does an exterior-only appraisal have to include subject property and comparable sales photos?

Note: This FAQ comes from the published COVID-19, FAQs on Appraisals.  Does an appraisal report have to include subject property and comparable...

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.