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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What is meant by full payments in accordance with the program for loss mitigation solutions other than repayment, deferral or modification?

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

For loss mitigation solutions other than repayment, deferral or modification, what is meant by “full payments” in accordance with the program?

If another type of loss mitigation solution has been agreed to by the servicer and the borrower to resolve the missed payments, three “full payments” must be made in an amount no less than the required payment due under the terms of the note, or any other agreement that permanently alters the payment amount, such as a Loan Modification agreement.

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

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