Fannie Mae issued Selling Guide Announcement SEL-2019-09 (Announcement). Per the Announcement, Fannie Mae updated the Selling Guide to include changes to the following:
- Monthly real estate tax payment calculations;
- Non-applicant debt policies;
- Bridge loans in monthly debt obligations;
- Titling manufactured homes;
- Waiver of assignments for properties in Puerto Rico; and
- Fidelity bond and errors and omissions reporting mailbox.
Fannie Mae also announced the retirement of the Additional Data Elements and Message Manager applications and updated the Software Subscription Agreement Master Terms and Conditions.
Updates relating to calculating the monthly real estate tax payment are effective March 1, 2020. Changes involving non-applicant debt policies are effective December 7, 2019. Information relating to titling manufactured homes and the waiver of assignments for properties in Puerto Rico is for immediate use. Updates to fidelity bond and errors and omissions events are effective February 1, 2020.
Click Here to View the Fannie Mae Selling Guide Announcement SEL-2019-09
