Fannie Mae issued Selling Guide Announcement SEL-2016-02 (Announcement). This Announcement: eliminates the continuity of obligation policy; clarifies lender obligations for reporting a breach of a selling representation or warranty related to the lender’s compliance with applicable laws; updates language regarding the types of losses for which lenders must indemnify Fannie Mae; clarifies that lenders are only required to deliver HomeStyle Renovation mortgage loans with recourse when the loan is delivered to Fannie Mae prior to the completion of the renovations; amends the definition of “relocation loan”; creates new state-specific notes for Pennsylvania; amends the Pennsylvania security instrument; updates the Special Feature Codes list; announces the publication of fillable rental income worksheets; and announces several miscellaneous Selling Guide updates.
Fannie Mae
Fannie Mae Issues Selling Guide Announcement SEL-2025-02
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
April 3, 2025
