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 if I cannot obtain tax transcripts that are required as part of my post-closing QC process?

Note: This FAQ comes from the published COVID-19, FAQs on Quality Control.

What if I cannot obtain tax transcripts that are required as part of my post-closing QC process?

If verbal or electronic reverifications cannot be completed, lenders can complete the file review without the reverification.  However, lenders must: 

  • internally track all loans that did not have a successful reverification attempt during this time, and 
  • conduct a special discretionary sample of such mortgages and perform the required reverifications on the sample population upon the expiration of the flexibilities contained in Lender Letter LL-2020-03, Impact of COVID-19 on Originations. 

As a reminder, the reporting requirements of D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit continue to apply with respect to this special discretionary sample(s). 

Reminder: Lenders should prioritize execution of IRS Form 4506-T in the special discretionary sample(s) based on the expiration date of the IRS Form 4506-T. 

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