Selling Guide

Published April 07, 2021

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Launch Ask Poli  

Download PDF Guide

You can also download the printable 1,200+ page PDF, which include links.

Download Now

What is the difference between a guarantor, co-signer and non-occupant borrower?

Definitions

Guarantors and co-signers are credit applicants who

  • do not have ownership interest in the subject property as indicated on the title;
  • sign the mortgage or deed of trust note;
  • have joint liability for the note with the borrower;
  • do not have an interest in the property sales transaction, such as the property seller, the builder, or the real estate broker; and
  • meet the requirements in B2-2-01, General Borrower Eligibility Requirements, except for the provisions related to establishing an ownership interest in the property. B2-2-01, General Borrower Eligibility Requirements

Non-occupant borrowers are credit applicants on a principal residence transaction who

  • do not occupy the subject property;
  • may or may not have an ownership interest in the subject property as indicated on the title;
  • sign the mortgage or deed of trust note;
  • have joint liability for the note with the borrower(s);
  • do not have an interest in the property sales transaction, such as the property seller, the builder, or the real estate broker; and
  • meet the requirements in B2-2-01, General Borrower Eligibility Requirements, except for the provisions related to establishing an ownership interest in the property.

Note:: Guarantors, co-signers, and non-occupant borrowers are permitted on purchase, limited cash-out and cash-out refinance transactions.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.