Fannie Mae Selling Guide: An Essential Resource for Real Estate Professionals
In the realm of real estate, understanding the intricacies of mortgage loans and their criteria can be a challenge. This is where the Fannie Mae Selling Guide comes into play.
Fannie Mae is a government-sponsored enterprise that purchases original mortgage loans from established financial institutions such as banks and credit unions. However, for a loan to be considered for purchase by Fannie Mae, it must adhere to specific standards.
The Fannie Mae Selling Guide serves as an authoritative resource for lenders, appraisers, and real estate professionals. This comprehensive guide provides insights into appraisals, home purchases, and refinances, ensuring that industry standards are met.
The guide is categorized into five structured sections:
- Doing Business with Fannie Mae – Outlines the fundamentals of engagement with the entity.
- Origination through Closing – Details the process from the inception of a loan to its conclusion.
- Selling, Securitizing, and Delivering Loans – Covers the nuances of loan transactions.
- Ensuring Quality Control – Emphasizes the importance of maintaining superior standards.
- Quick Reference Materials – Provides easy access to pertinent information.
It’s important to note that the Selling Guide is continuously updated, reflecting the dynamic nature of the real estate industry. Furthermore, its accessibility to the public and a user-friendly search function allows professionals to easily retrieve the information they need.
For agents, buyers, and sellers, the Selling Guide offers helpful insights. It sheds light on standards and requirements for Accessory Dwelling Units (ADUs), outlines the parameters that define a home’s living area, and explains on income requirements and the incorporation of rental income for loan qualification.
Here’s a link to the guide if you are interested in finding answers to some of the common appraisal-related questions. Fannie Mae Selling Guide
