Chapter B8-2, Security Instruments Security Instruments Table of contents B8-2-01, Security Instruments for Conventional Mortgages B8-2-02, Special-Purpose Security Instruments B8-2-03, Signature Requirements for Security Instruments
Browse the Guide Table Of Contents Copyright and Preface Part A Doing Business with Fannie Mae Subpart A1, Approval Qualification Chapter A1-1, Application and Approval of Seller/Servicer A1-1-01, Application and Approval of Seller/Servicer Subpart A2, Lender Contract Chapter A2-1, Contractual Obligations for Sellers/Servicers A2-1-01, Contractual Obligations for Sellers/Servicers A2-1-02, Nature of Mortgage Transaction A2-1-03, Indemnification for Losses Chapter A2-2, Contractual Representations and Warranties A2-2-01, Representations and Warranties Overview A2-2-02, Delivery Information and Delivery-Option Specific Representations and Warranties A2-2-03, Document Warranties A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties A2-2-05, Invalidation of Limited Waiver of Representations and Warranties A2-2-06, Representations and Warranties on Property Value A2-2-07, Life-of-Loan Representations and Warranties Chapter A2-3, Lender Breach of Contract Section A2-3.1, Lender Breach of Contract A2-3.1-01, Lender Breach of Contract A2-3.1-02, Sanctions, Suspensions, and Terminations Section A2-3.2, Loan Repurchases and Make Whole Payments Requested by Fannie Mae A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility A2-3.2-03, Remedies Framework Section A2-3.3, Compensatory Fees A2-3.3-01, Compensatory Fees Chapter A2-4, Loan Files and Records Section A2-4.1, Establishment, Ownership, and Retention of Loan Files and Records A2-4.1-01, Establishing Loan Files A2-4.1-02, Ownership and Retention of Loan Files and Records A2-4.1-03, Electronic Records, Signatures, and Transactions A2-4.1-04, Notarization Standards Chapter A2-5, Fannie Mae Trade Name and Trademarks A2-5-01, Fannie Mae Trade Name and Trademarks Subpart A3, Getting Started With Fannie Mae Chapter A3-1, Fannie Mae’s Technology Products A3-1-01, Fannie Mae’s Technology Products Chapter A3-2, Compliance With Requirements and Laws A3-2-01, Compliance With Laws A3-2-02, Responsible Lending Practices Chapter A3-3, Third-Party Lending Functions and Servicing Arrangements A3-3-01, Outsourcing of Mortgage Processing and Third-Party Originations A3-3-02, Concurrent Servicing Transfers A3-3-03, Other Servicing Arrangements A3-3-04, Document Custodians A3-3-05, Custody of Mortgage Documents Chapter A3-4, Lending Practices A3-4-01, Confidentiality of Information A3-4-02, Data Quality and Integrity A3-4-03, Preventing, Detecting, and Reporting Mortgage Fraud Chapter A3-5, Fidelity Bond and Errors and Omissions Coverage A3-5-01, Fidelity Bond and Errors and Omissions Coverage Provisions A3-5-02, Fidelity Bond Policy Requirements A3-5-03, Errors and Omissions Policy Requirements A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events Subpart A4, Maintaining Seller/Servicer Eligibility Chapter A4-1, Maintaining Seller/Servicer Eligibility: Overview A4-1-01, Maintaining Seller/Servicer Eligibility A4-1-02, Submission of Financial Statements and Reports A4-1-03, Report of Changes in the Seller/Servicer’s Organization A4-1-04, Submission of Irrevocable Limited Powers of Attorney Part B Origination Through Closing Subpart B1, Loan Application Package Chapter B1-1, Application Package Documentation B1-1-01, Contents of the Application Package B1-1-02, Blanket Authorization Form B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns Subpart B2, Eligibility Chapter B2-1, Mortgage Eligibility Section B2-1.1, Occupancy Types B2-1.1-01, Occupancy Types Section B2-1.2, LTV, CLTV, HCLTV, and Subordinate Financing B2-1.2-01, Loan-to-Value (LTV) Ratios B2-1.2-02, Combined Loan-to-Value (CLTV) Ratios B2-1.2-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios B2-1.2-04, Subordinate Financing Section B2-1.3, Loan Purpose B2-1.3-01, Purchase Transactions B2-1.3-02, Limited Cash-Out Refinance Transactions B2-1.3-03, Cash-Out Refinance Transactions B2-1.3-04, Prohibited Refinancing Practices B2-1.3-05, Payoff of Installment Land Contract Requirements Section B2-1.4, Loan Amortization Types B2-1.4-01, Fixed-Rate Loans B2-1.4-02, Adjustable-Rate Mortgages (ARMs) B2-1.4-03, Convertible ARMs B2-1.4-04, Temporary Interest Rate Buydowns Section B2-1.5, Other Loan Attributes and Related Policies B2-1.5-01, Loan Limits B2-1.5-02, Loan Eligibility B2-1.5-03, Legal Requirements B2-1.5-04, Escrow Accounts B2-1.5-05, Principal Curtailments Chapter B2-2, Borrower Eligibility B2-2-01, General Borrower Eligibility Requirements B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements B2-2-03, Multiple Financed Properties for the Same Borrower B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction B2-2-05, Inter Vivos Revocable Trusts B2-2-06, Homeownership Education and Housing Counseling B2-2-07, First-Generation Homebuyer Loans Chapter B2-3, Property Eligibility B2-3-01, General Property Eligibility B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing B2-3-03, Special Property Eligibility and Underwriting Considerations: Leasehold Estates B2-3-04, Special Property Eligibility Considerations B2-3-05, Properties Affected by a Disaster Subpart B3, Underwriting Borrowers Chapter B3-1, Manual Underwriting B3-1-01, Comprehensive Risk Assessment Chapter B3-2, Desktop Underwriter (DU) B3-2-01, General Information on DU B3-2-02, DU Validation Service B3-2-03, Risk Factors Evaluated by DU B3-2-04, DU Documentation Requirements B3-2-05, Approve/Eligible Recommendations B3-2-06, Approve/Ineligible Recommendations B3-2-07, Refer with Caution Recommendations B3-2-08, Out of Scope Recommendations B3-2-09, Erroneous Credit Report Data B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report B3-2-11, DU Underwriting Findings Report Chapter B3-3, Income Assessment Section B3-3.1, Employment and Other Sources of Income B3-3.1-01, General Income Information B3-3.1-02, Standards for Employment Documentation B3-3.1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income B3-3.1-04, Commission Income B3-3.1-05, Secondary Employment Income (Second Job and Multiple Jobs) and Seasonal Income B3-3.1-06, Requirements and Uses of IRS IVES Request for Transcript of Tax Return Form 4506-C B3-3.1-07, Verbal Verification of Employment B3-3.1-08, Rental Income B3-3.1-09, Other Sources of Income B3-3.1-10, Income Calculator Section B3-3.2, Self-Employment Income B3-3.2-01, Underwriting Factors and Documentation for a Self-Employed Borrower B3-3.2-02, Business Structures B3-3.2-03, IRS Forms Quick Reference Section B3-3.3, Self-Employment Documentation Requirements for an Individual B3-3.3-01, General Information on Analyzing Individual Tax Returns B3-3.3-02, Income Reported on IRS Form 1040 B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule C B3-3.3-04, Income or Loss Reported on IRS Form 1040, Schedule D B3-3.3-05, Income or Loss Reported on IRS Form 1040, Schedule E B3-3.3-06, Income or Loss Reported on IRS Form 1040, Schedule F B3-3.3-07, Income or Loss Reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1 Section B3-3.4, Self-Employment Documentation Requirements for a Business B3-3.4-01, Analyzing Partnership Returns for a Partnership or LLC B3-3.4-02, Analyzing Returns for an S Corporation B3-3.4-03, Analyzing Returns for a Corporation B3-3.4-04, Analyzing Profit and Loss Statements Section B3-3.5, DU Requirements for Income Assessment B3-3.5-01, Income and Employment Documentation for DU B3-3.5-02, Income from Rental Property in DU Chapter B3-4, Asset Assessment Section B3-4.1, General Asset Requirements B3-4.1-01, Minimum Reserve Requirements B3-4.1-02, Interested Party Contributions (IPCs) B3-4.1-03, Types of Interested Party Contributions (IPCs) B3-4.1-04, Virtual Currency Section B3-4.2, Verification of Depository Assets B3-4.2-01, Verification of Deposits and Assets B3-4.2-02, Depository Accounts B3-4.2-03, Individual Development Accounts B3-4.2-04, Pooled Savings (Community Savings Funds) B3-4.2-05, Foreign Assets Section B3-4.3, Verification of Non-Depository Assets B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds B3-4.3-02, Trust Accounts B3-4.3-03, Retirement Accounts B3-4.3-04, Personal Gifts B3-4.3-05, Gifts of Equity B3-4.3-06, Grants and Lender Contributions B3-4.3-07, Disaster Relief Grants or Loans B3-4.3-08, Employer Assistance B3-4.3-09, Earnest Money Deposit B3-4.3-10, Anticipated Sales Proceeds B3-4.3-11, Trade Equity B3-4.3-12, Rent-Related Credits B3-4.3-13, Sweat Equity B3-4.3-14, Bridge/Swing Loans B3-4.3-15, Borrowed Funds Secured by an Asset B3-4.3-16, Credit Card Financing and Reward Points B3-4.3-17, Personal Unsecured Loans B3-4.3-18, Sale of Personal Assets B3-4.3-19, Cash Value of Life Insurance B3-4.3-20, Anticipated Savings and Cash-on-Hand B3-4.3-21, Borrower's Earned Real Estate Commission Section B3-4.4, DU Requirements for Asset Assessment B3-4.4-01, DU Asset Verification B3-4.4-02, Requirements for Certain Assets in DU Chapter B3-5, Credit Assessment Section B3-5.1, Credit Scores B3-5.1-01, General Requirements for Credit Scores B3-5.1-02, Determining the Credit Score for a Mortgage Loan Section B3-5.2, Credit Reports B3-5.2-01, Requirements for Credit Reports B3-5.2-02, Types of Credit Reports B3-5.2-03, Accuracy of Credit Information in a Credit Report Section B3-5.3, Traditional Credit History B3-5.3-01, Number and Age of Accounts B3-5.3-02, Payment History B3-5.3-03, Previous Mortgage Payment History B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit B3-5.3-05, Credit Utilization B3-5.3-06, Authorized Users of Credit B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit B3-5.3-08, Extenuating Circumstances for Derogatory Credit B3-5.3-09, DU Credit Report Analysis Section B3-5.4, Nontraditional Credit History B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit B3-5.4-02, Number and Types of Nontraditional Credit References B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History Chapter B3-6, Liability Assessment B3-6-01, General Information on Liabilities B3-6-02, Debt-to-Income Ratios B3-6-03, Monthly Housing Expense for the Subject Property B3-6-04, Qualifying Payment Requirements B3-6-05, Monthly Debt Obligations B3-6-06, Qualifying Impact of Other Real Estate Owned B3-6-07, Debts Paid Off At or Prior to Closing B3-6-08, DU: Requirements for Liability Assessment Subpart B4, Underwriting Property Chapter B4-1, Property Assessment and Valuation Section B4-1.1, General Appraisal Requirements B4-1.1-01, Definition of Market Value B4-1.1-02, Lender Responsibilities B4-1.1-03, Appraiser Selection Criteria B4-1.1-04, Unacceptable Appraisal Practices B4-1.1-05, Disclosure of Information to Appraisers B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP) Section B4-1.2, Documentation Standards B4-1.2-01, Appraisal Report Forms and Exhibits B4-1.2-02, Desktop Appraisals B4-1.2-03, Hybrid Appraisals B4-1.2-04, Appraisal Age and Use Requirements B4-1.2-05, Requirements for Verifying Completion and Postponed Improvements Section B4-1.3, Appraisal Report Assessment B4-1.3-01, Review of the Appraisal Report B4-1.3-02, Subject and Contract Sections of the Appraisal Report B4-1.3-03, Neighborhood Section of the Appraisal Report B4-1.3-04, Site Section of the Appraisal Report B4-1.3-05, Improvements Section of the Appraisal Report B4-1.3-06, Property Condition and Quality of Construction of the Improvements B4-1.3-07, Sales Comparison Approach Section of the Appraisal Report B4-1.3-08, Comparable Sales B4-1.3-09, Adjustments to Comparable Sales B4-1.3-10, Cost and Income Approach to Value B4-1.3-11, Valuation Analysis and Reconciliation B4-1.3-12, Appraisal Quality Matters Section B4-1.4, Special Appraisal and Other Valuation Considerations B4-1.4-01, Factory-Built Housing: Manufactured Housing B4-1.4-02, Factory-Built Housing: Modular, Prefabricated, Panelized, or Sectional Housing B4-1.4-03, Condo Appraisal Requirements B4-1.4-04, Co-op Appraisal Requirements B4-1.4-05, Leasehold Interests Appraisal Requirements B4-1.4-06, Community Land Trust Appraisal Requirements B4-1.4-07, Mixed-Use Property Appraisal Requirements B4-1.4-08, Environmental Hazards Appraisal Requirements B4-1.4-09, Special Assessment or Community Facilities Districts Appraisal Requirements B4-1.4-10, Value Acceptance (Appraisal Waiver) B4-1.4-11, Value Acceptance + Property Data Chapter B4-2, Project Standards Section B4-2.1, General Project Standards B4-2.1-01, General Information on Project Standards B4-2.1-02, Waiver of Project Review B4-2.1-03, Ineligible Projects B4-2.1-04, Environmental Hazard Assessments B4-2.1-05, Unacceptable Environmental Hazards B4-2.1-06, Remedial Actions for Environmental Hazard Assessments Below Standards Section B4-2.2, Project Eligibility B4-2.2-01, Limited Review Process B4-2.2-02, Full Review Process B4-2.2-03, Full Review: Additional Eligibility Requirements for Units in New and Newly Converted Condo Projects B4-2.2-04, Geographic-Specific Condo Project Considerations B4-2.2-05, FHA-Approved Condo Review Eligibility B4-2.2-06, Project Eligibility Review Service (PERS) B4-2.2-07, Projects with Special Considerations and Project Eligibility Waivers Section B4-2.3, PUD and Co-op Eligibility Requirements B4-2.3-01, Eligibility Requirements for Units in PUD Projects B4-2.3-02, Co-op Project Eligibility B4-2.3-03, Legal Requirements for Co-op Projects B4-2.3-04, Loan Eligibility for Co-op Share Loans B4-2.3-05, Geographic-Specific Co-op Project Considerations Subpart B5, Unique Eligibility and Underwriting Considerations Chapter B5-1, High-Balance Mortgage Loans B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations Chapter B5-2, Manufactured Housing B5-2-01, Manufactured Housing B5-2-02, Manufactured Housing Loan Eligibility B5-2-03, Manufactured Housing Underwriting Requirements B5-2-04, Manufactured Housing Pricing, Mortgage Insurance, and Loan Delivery Requirements B5-2-05, Manufactured Housing Legal Considerations Chapter B5-3, Construction and Energy Financing Section B5-3.1, Conversion of Construction-to-Permanent Financing B5-3.1-01, Conversion of Construction-to-Permanent Financing: Overview B5-3.1-02, Conversion of Construction-to-Permanent Financing: Single-Closing Transactions B5-3.1-03, Conversion of Construction-to-Permanent Financing: Two-Closing Transactions Section B5-3.2, HomeStyle Renovation Mortgage B5-3.2-01, HomeStyle Renovation Mortgages B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility B5-3.2-03, HomeStyle Renovation Mortgages: Collateral Considerations B5-3.2-04, HomeStyle Renovation Mortgages: Costs and Escrow Accounts B5-3.2-05, HomeStyle Renovation Mortgages: Completion Certification B5-3.2-06, HomeStyle Renovation: Renovation Contract, Renovation Loan Agreement, and Lien Waiver Section B5-3.3, HomeStyle Energy Mortgages B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties Section B5-3.4, Property Assessed Clean Energy Loans B5-3.4-01, Property Assessed Clean Energy Loans Chapter B5-4, Property-Specific Products Section B5-4.1, General Requirements of Texas Section 50(a)(6) Loans B5-4.1-01, Texas Section 50(a)(6) Loans B5-4.1-02, Texas Section 50(a)(6) Loan Eligibility B5-4.1-03, Texas Section 50(a)(6) Loan Underwriting, Collateral, and Closing Considerations B5-4.1-04, Texas Section 50(a)(6) Loan Delivery and Servicing Considerations Section B5-4.2, Other Property-Specific Products B5-4.2-01, Native American Conventional Lending Initiative (NACLI) B5-4.2-02, Disaster-Related Limited Cash-Out Refinance Flexibilities B5-4.2-03, Loans Secured by HomePath Properties Chapter B5-5, Community Seconds, Loans with Resale Restrictions, and Shared Equity Transactions Section B5-5.1, Community Seconds B5-5.1-01, Community Seconds Loans B5-5.1-02, Community Seconds Loan Eligibility B5-5.1-03, Community Seconds: Shared Appreciation Transactions Section B5-5.2, Loans with Resale Restrictions B5-5.2-01, Loans With Resale Restrictions: General Information B5-5.2-02, Loans with Resale Restrictions: Eligibility, Collateral and Delivery Requirements Section B5-5.3, Shared Equity Transactions B5-5.3-01, Shared Equity Overview B5-5.3-02, Shared Equity Transactions: General Requirements B5-5.3-03, Shared Equity Transactions: Eligibility, Underwriting and Collateral Requirements B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility Requirements Chapter B5-6, HomeReady Mortgage B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements B5-6-03, HomeReady Mortgage Loan Pricing, Mortgage Insurance, and Special Feature Codes Chapter B5-7, High Loan-to-Value Refinance Option B5-7-01, High LTV Refinance Loan and Borrower Eligibility B5-7-02, High LTV Refinance Underwriting, Documentation, and Collateral Requirements for the New Loan B5-7-03, High LTV Refinance Alternative Qualification Path B5-7-04, High LTV Refinance Representations and Warranties B5-7-05, High LTV Refinance Pricing, Mortgage Insurance, and Special Feature Codes Subpart B6, Government Programs Eligibility and Underwriting Requirements Chapter B6-1, Government Insured and Guaranteed Mortgages B6-1-01, General Government Mortgage Loan Requirements B6-1-02, Eligible FHA-Insured Mortgage Loans B6-1-03, Eligible VA-Guaranteed Mortgages B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages B6-1-05, Eligible RD-Guaranteed Mortgages Subpart B7, Insurance Chapter B7-1, Mortgage Insurance/Loan Guaranty B7-1-01, Provision of Mortgage Insurance B7-1-02, Mortgage Insurance Coverage Requirements B7-1-03, Lender-Purchased Mortgage Insurance B7-1-04, Financed Borrower-Purchased Mortgage Insurance B7-1-05, Government Mortgage Loan Guaranty or Insurance Chapter B7-2, Title Insurance B7-2-01, Provision of Title Insurance B7-2-02, Title Insurer Requirements B7-2-03, General Title Insurance Coverage B7-2-04, Special Title Insurance Coverage Considerations B7-2-05, Title Exceptions and Impediments B7-2-06, Attorney Title Opinion Letter Requirements Chapter B7-3, Property and Flood Insurance B7-3-01, General Property Insurance Requirements for All Property Types B7-3-02, Property Insurance Requirements for One-to Four-Unit Properties B7-3-03, Master Property Insurance Requirements for Project Developments B7-3-04, Individual Property Insurance Requirements for a Unit in a Project Development B7-3-05, Additional Insurance Requirements B7-3-06, Flood Insurance Requirements for All Property Types B7-3-07, Evidence of Property Insurance B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements Chapter B7-4, Liability and Fidelity/Crime Insurance Requirements for Project Developments B7-4-01, General Liability Insurance Requirements for Project Developments B7-4-02, Fidelity/Crime Insurance Requirements for Project Developments Subpart B8, Closing: Legal Documents Chapter B8-1, General Information on Legal Documents B8-1-01, Publication of Legal Documents Chapter B8-2, Security Instruments B8-2-01, Security Instruments for Conventional Mortgages B8-2-02, Special-Purpose Security Instruments B8-2-03, Signature Requirements for Security Instruments Chapter B8-3, Notes B8-3-01, Notes for Conventional Mortgages B8-3-02, Special Note Provisions and Language Requirements B8-3-03, Signature Requirements for Notes B8-3-04, Note Endorsement Chapter B8-4, Riders and Addenda B8-4-01, Riders and Addenda Chapter B8-5, Special-Purpose Legal Documents B8-5-01, General Information on Special-Purpose Legal Documents B8-5-02, Inter Vivos Revocable Trust Mortgage Documentation and Signature Requirements B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements B8-5-04, Sample Legal Documents B8-5-05, Requirements for Use of a Power of Attorney Chapter B8-6, Mortgage Assignments B8-6-01, Authorized Use of Intervening and Blanket Assignments Chapter B8-7, Mortgage Electronic Registration System (MERS) B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc. Chapter B8-8, Sale of eMortgages to Fannie Mae B8-8-01, General Information on eMortgages B8-8-02, Requirements for Creating, Closing, and Correcting eNotes Part C Selling, Securitizing, and Delivering Loans Subpart C1, General Information on Execution Options and Loan Delivery Chapter C1-1, Execution Options Overview C1-1-01, Execution Options Chapter C1-2, Loan Delivery Overview C1-2-01, General Information on Delivering Loan Data and Documents C1-2-02, Loan Data and Documentation Delivery Requirements C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests C1-2-04, Delivering eMortgages to Fannie Mae C1-2-05, Delivering Green MBS to Fannie Mae C1-2-06, Bailee Letters Chapter C1-3, Loan Remittance Types Overview C1-3-01, General Information on Remittance Types Subpart C2, Whole Loan Transactions Chapter C2-1, Mandatory and Best Efforts Commitments to Sell Whole Loans Section C2-1.1, Mandatory Commitments to Sell Whole Loans C2-1.1-01, Mandatory Commitment Process C2-1.1-02, General Information about Mandatory Commitment Pricing and Fees C2-1.1-03, Mandatory Commitment Terms, Amounts, Periods and Other Requirements C2-1.1-04, Mandatory Commitment Extensions and Pair-Offs C2-1.1-05, Servicing Fees C2-1.1-06, Accrued Interest Payments for Regularly Amortizing Mortgages C2-1.1-07, Standard ARM and Converted ARM Resale Commitments Section C2-1.2, Best Efforts Commitments to Sell Whole Loans C2-1.2-01, Best Efforts Commitment Process C2-1.2-02, Best Efforts Commitment Pricing, Periods, and Fees C2-1.2-03, Best Efforts Commitment Terms, Amounts, and Other Requirements Section C2-1.3, Servicing Execution Tool to Sell Whole Loans C2-1.3-01, Servicing Marketplace Chapter C2-2, Whole Loan Deliveries to and Purchasing by Fannie Mae C2-2-01, General Requirements for Good Delivery of Whole Loans C2-2-02, Documentation Requirements for Whole Loan Deliveries C2-2-03, General Information on Whole Loan Purchasing Policies C2-2-04, Timing of Distribution of Whole Loan Purchase Proceeds C2-2-05, Whole Loan Purchasing Process C2-2-06, Authorization to Transfer Funds C2-2-07, Purchase Payee Codes Subpart C3, Mortgage-Backed Securities (MBS) Chapter C3-1, MBS Program Overview C3-1-01, General Information About Fannie Mae’s MBS Program C3-1-02, Preparing to Pool Loans into MBS Chapter C3-2, MBS Securitization Process C3-2-01, Determining Eligibility for Loans Pooled into MBS C3-2-02, Selecting a Servicing Option C3-2-03, MBS Remittance Type and Selecting a Remittance Cycle C3-2-04, Mandatory MBS Commitments Chapter C3-3, MBS Guaranty Fees and Guaranty Fee Buyups and Buydowns C3-3-01, Determining and Remitting Guaranty Fees C3-3-02, Accessing Buyup and Buydown Ratios and Calculating Payments or Charges C3-3-03, Buying Up and Buying Down the Guaranty Fee for MBS Chapter C3-4, Pooling Loans into Fixed-Rate MBS C3-4-01, Term-Related Fixed-Rate Mortgage Pooling Parameters Chapter C3-5, Pooling Loans into ARM MBS C3-5-01, Creating Weighted-Average ARM MBS C3-5-02, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Fixed MBS Margin C3-5-03, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Weighted-Average MBS Margin C3-5-04, Pooling ARMs with a Conversion Option C3-5-05, Commingling ARMs in MBS Chapter C3-6, Pooling Loans into Fannie Majors C3-6-01, Parameters for Pooling Loans Into Fannie Majors Chapter C3-7, Delivering and Trading MBS C3-7-01, Establishing an MBS Trading Account C3-7-02, Initiating an MBS Sale C3-7-03, Making Good Delivery C3-7-04, Delivering MBS Pool Data and Documents C3-7-05, Confirming Presettlement Information C3-7-06, Settling the Trade C3-7-07, Sale of Fannie Mae Securities to Third Parties Part D Ensuring Quality Control (QC) Subpart D1, Lender QC Process Chapter D1-1, Lender Quality Control Process D1-1-01, Lender Quality Control Programs, Plans, and Processes D1-1-02, Lender Quality Control Staffing and Outsourcing of the Quality Control Process Chapter D1-2, Lender Prefunding QC Mortgage Review D1-2-01, Lender Prefunding Quality Control Review Process Chapter D1-3, Lender Post-Closing QC Mortgage Review D1-3-01, Lender Post-Closing Quality Control Review Process D1-3-02, Lender Post-Closing Quality Control Review of Approval Conditions, Underwriting Decisions, and Documentation D1-3-03, Lender Post-Closing Quality Control Review of Data Integrity D1-3-04, Lender Post-Closing Quality Control Review of Appraisers, Appraisals, Property Data Collectors, and Property Data Collection D1-3-05, Lender Post-Closing Quality Control Review of Closing Documents D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit Subpart D2, Fannie Mae QC Process Chapter D2-1, General Information on Fannie Mae QC Process D2-1-01, General Information on Fannie Mae QC Reviews D2-1-02, Fannie Mae QC File Request and Submission Requirements D2-1-03, Outcomes of Fannie Mae QC Reviews D2-1-04, Identifying and Remedying Origination Defects Under the Remedies Framework Part E Quick Reference Materials Chapter E-1, Selling Guide Resources E-1-01, References to Fannie Mae's Website E-1-02, List of Contacts E-1-03, List of Lender Contracts Chapter E-2, Exhibits E-2-01, Required Custodial Documents E-2-02, Suggested Format for Phase I Environmental Hazard Assessments E-2-03, Revocable Trust Rider (Sample Language) E-2-04, Signature Requirements for Mortgages to Inter Vivos Revocable Trusts E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement E-2-06, Correcting Errors in eNotes E-2-07, Description of eNote Header, Footer, and eNote Clause Chapter E-3, Acronyms and Glossary of Defined Terms E-3-01, Acronyms and Glossary of Defined Terms: A E-3-02, Acronyms and Glossary of Defined Terms: B E-3-03, Acronyms and Glossary of Defined Terms: C E-3-04, Acronyms and Glossary of Defined Terms: D E-3-05, Acronyms and Glossary of Defined Terms: E E-3-06, Acronyms and Glossary of Defined Terms: F E-3-07, Acronyms and Glossary of Defined Terms: G E-3-08, Acronyms and Glossary of Defined Terms: H E-3-09, Acronyms and Glossary of Defined Terms: I E-3-10, Acronyms and Glossary of Defined Terms: J E-3-11, Acronyms and Glossary of Defined Terms: K E-3-12, Acronyms and Glossary of Defined Terms: L E-3-13, Acronyms and Glossary of Defined Terms: M E-3-14, Acronyms and Glossary of Defined Terms: N E-3-15, Acronyms and Glossary of Defined Terms: O E-3-16, Acronyms and Glossary of Defined Terms: P E-3-17, Acronyms and Glossary of Defined Terms: Q E-3-18, Acronyms and Glossary of Defined Terms: R E-3-19, Acronyms and Glossary of Defined Terms: S E-3-20, Acronyms and Glossary of Defined Terms: T E-3-21, Acronyms and Glossary of Defined Terms: U E-3-22, Acronyms and Glossary of Defined Terms: V E-3-23, Acronyms and Glossary of Defined Terms: W E-3-24, Acronyms and Glossary of Defined Terms: X E-3-25, Acronyms and Glossary of Defined Terms: Y E-3-26, Acronyms and Glossary of Defined Terms: Z Browse the Guide