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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Does the lender remain responsible for the reps and warrants related to the borrower’s employment status when using one of the verbal VOE flexibilities? 

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

Does the lender remain responsible for the representations and warranties related to the borrower’s employment status when using one of the verbal VOE flexibilities?

Yes. The lender’s representations and warranties related to the borrower’s employment status do not change. We are allowing certain documentation flexibilities due to the unique circumstances resulting from the COVID-19 pandemic to address the issue lenders have raised due to disruption of employer operations and their inability to be reached by phone. Lenders are not required to use these flexibilities if they are not comfortable with them.

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

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

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