Fannie Mae issued Selling Guide Announcement SEL-2021-06 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae:
- Updated asset documentation requirements for refinanced transactions;
- Clarified when an appraisal update or new appraisal is required;
- Updated the MBS trade confirmation process; and
- Updated all uniform legal instruments to enhance clarity and usability.
Revisions related to changes to the MBS trade confirmation process are effective August 1, 2021. Revisions related to changes made to the use of uniform legal instruments are effective with note dates on or after January 1, 2023 (however, may be applied immediately). All other revisions in the Announcement can be applied immediately.
Click to view the Fannie Mae Selling Guide Announcement SEL-2021-06: https://www.tenaco.com/wp-content/uploads/2021/07/Fannie-Mae-Selling-Guide-Announcement-SEL-2021-06-07-07-21.pdf
