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B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages (12/14/2022)

This topic contains information on HUD-guaranteed Section 184 Indian Home Loan Guarantee Program mortgages (including Section 184A Native Hawaiian Housing Loan Guarantee Program mortgage loans), including:


Any approved Fannie Mae lender may deliver HUD-guaranteed Section 184 mortgages to Fannie Mae provided the lender obtains the required HUD loan guarantee.

Fannie Mae will purchase or securitize HUD-guaranteed Section 184 mortgages under the following conditions:

  • The HUD Section 184 mortgage must comply with HUD requirements.

  • The loan must be secured by one- to four-unit properties located on individual lots or in a condo, cooperative, or PUD project.

  • HUD Section 184 mortgages may be secured by a manufactured home if it meets HUD's requirements.

  • The mortgage transaction may be a purchase or a refinance transaction.

  • HUD Section 184 mortgages that are subject to an interest rate buydown plan are not permitted.

HUD Section 184 Combination Construction/Permanent Mortgages

Lenders must adhere to HUD’s requirements concerning combination construction/permanent HUD 184 mortgages. These are limited to whole loan deliveries only.

Fannie Mae will not purchase a HUD-guaranteed Section 184 mortgage that includes as part of the collateral, personal property, cash, notes, an interest in securities, royalties, annuities, and any other property that is transferable and for which a present value may be determined.

However, the construction escrow account that is required when these mortgages are closed as combination construction/permanent mortgages, as well as any partially completed improvements, must be part of the collateral.

Delivery of HUD-Guaranteed Section 184 Mortgages

Lenders must report SFC 202 when selling HUD Section 184 (and 184A) loans to Fannie Mae.

Section 184 loans are assumable as of the note date. When selling such loans to Fannie Mae, the Assumption Indicator in the Loan Delivery application must be "True" (which means assumable).

Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic.

Announcements Issue Date
Announcement SEL-2022-10 December 14, 2022