Selling Guide

Published June 02, 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

Who can be a power of attorney?

Eligibility Requirements for Using a Power of Attorney

Underwriting and Documentation Requirements
Eligible Transactions
  • Purchase

  • Limited cash-out refinance

Documentation Requirements An agent under a POA may sign the note and/or security instrument on behalf of a borrower (as defined in the Glossary) if all of the following requirements are met:
  • The lender obtains a copy of the POA.

  • The name(s) on the POA match the name(s) of the person on the relevant loan document.

  • The POA is dated such that it was valid at the time the relevant loan document was executed.

  • The POA is notarized.

  • The POA must reference the address of the subject property.

Note: See B1-1-01, Contents of the Application Package, regarding the use of a POA in completing the Uniform Residential Loan Application.
Additional Requirements
  • In jurisdictions where a POA used for a signature on a security instrument must be recorded with the security instrument, the lender must ensure that recordation has been effected.

  • If applicable law requires an original POA for enforcement or foreclosure purposes, an original must be forwarded to the document custodian.

  • If there is more than one borrower, each may execute the note and/or security instrument using a POA that complies with this section.

Ineligible Agents Unless a person described below is a relative* of the borrower, none may serve as an agent except in accordance with a listed permitted exception.
Agent Permitted Exceptions
Affiliate of lender Transaction must meet the Additional Conditions below
Loan originator
Affiliate of the loan originator
Employee of the title insurance company
Affiliate of the title insurance company or its employee (including, but not limited to, the title agency closing the loan)
Lender (or employee of lender) None
Property seller, or any person related to the property seller, including a relative or affiliate
Any real estate agent with a financial interest in the transaction (or any person affiliated with such real estate agent)

*A borrower’s relative includes any person defined as a relative in this Guide, or a person who is a fiancé, fiancée, or in a legally recognized mutual relationship with the borrower (however denominated under applicable local law).

For additional information, see B8-5-05, Requirements for Use of a Power of Attorney

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.