Selling Guide

Published April 1, 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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Can I use the requirements for income while on temporary leave due to the pandemic?

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

Can I use the requirements for income while on temporary leave?

Certain types of temporary leave may be eligible for qualifying. See B3-3.1-09, Other Sources of Income; Temporary Leave Income.  However, please note that furloughed borrowers are currently ineligible under the temporary leave policy.  

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

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What are the requirements when employment is scheduled to begin after the loan closes?

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Are collection accounts and non-mortgage charge-offs required to be paid off?

Manually Underwritten LoansFor manually underwritten loans, collection accounts and charge-offs on non-mortgage accounts do not have to be paid off ...

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