Fannie Mae issued Selling Guide Announcement SEL-2021-03 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae:
- Introduced 2 new forms (Form 1078 and Form 1079) for Fannie Mae review of co-op project requests;
- Clarified lender responsibilities related to gift funds identified in the Desktop Underwriter validation service;
- Revised the Master Terms and Conditions to the Software Subscription Agreement;
- Updated eligibility of loans secured by second home and investment properties (Incorporated requirements announced in Lender Letter-2021-08); and
- Updated the email address (effective April 1, 2021) for submission of the Seller’s Designation of Wire Transfer Instructions (Form 482).
The Announcement is effective immediately.
Click to view the Fannie Mae Selling Guide Announcement SEL-2021-03: https://www.tenaco.com/wp-content/uploads/2021/04/Fannie-Mae-Selling-Guide-Announcement-SEL-2021-03.pdf
