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 a loan be delivered with notarizations performed using audio-video technology?

Note: This FAQ comes from the published COVID-19, FAQs on Notarization & Power of Attorney

Are lenders permitted to deliver loans where the notarizations have been performed via use of audio-video technology (for example, Zoom, Skype, or FaceTime®) to help facilitate what would otherwise be a traditional paper-based closing?

Yes. Lenders may sell loans with loan documents that have been notarized using audio-visual technology (such as Zoom, Skype, or FaceTime®) to facilitate an in-person ink-signed notarization (a remote in-person notarization or “RIN”), on the following terms and conditions:

  • The RIN has been expressly authorized under applicable law.
  • The RIN is performed in accordance with and is legally valid under the laws and regulations of the state in which the notarization is performed, at the time it was performed.
  • The borrower or person whose signature is being notarized and the notary are physically located in the state where the notarial act is performed.
  • The loan is not a Texas Section 50(a)(6) loan.
  • The loan is delivered with a Special Feature Code 920 identifying the loan as a RIN.
  • If the loan document is required to be recorded, then the county recorder in the state and county where the property is located must accept the RIN document for recording.
  • The lender makes all selling representations and warranties per the Selling Guide, including representations and warranties related to:
  • The RIN has been expressly authorized under applicable law.
    • clear title and first lien enforceability;
    • compliance with laws and responsible lending practices; and
    • requirements regarding title insurance, including those in B7-2-04, Special Title Insurance Coverage Considerations. If the notarized document is a security instrument or an amendment to a security instrument, the RIN must comply with the title requirements in B7-2-04 and the title insurance company may not take any exception for the RIN.

Lenders may also wish to refer to the RIN Job Aid that reflects minimum standards that Fannie Mae believes represent prudent closing processes when using RIN that we encourage (but do not require) lenders to follow.

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

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