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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Can the signed letter from the borrower confirming the work was completed for an appraisal made “subject to repairs or alterations” be provided by email?

Note: This FAQ comes from the published COVID-19, FAQs on Appraisals

In Lender Letter LL-2020-04, Impact of COVID-19 on Appraisals, we stated that when an appraisal is completed “subject to repairs or alterations” a signed letter from the borrower confirming that the work was completed is allowed. Can the requirements of this letter be provided via email?

The lender is responsible for ensuring this letter and supporting documentation is in the mortgage file. The borrower and lender can use electronic means of communication, for example email, to transmit the signed letter and verification documentation.

For more information, refer to the published Lender Letter LL-2020-04, Impact of COVID-19 on Appraisals.

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