Fannie Mae

Fannie Mae can assist banks by providing them with an outlet for the sale of their retained residential mortgage loans. By selling loans servicing retained, banks can better manage interest rate risk, increase fee income, and continue to maintain ongoing relationships with their mortgage customers. Fannie Mae is committed to helping banks serve their communities by enabling them the ability to offer a full range of mortgage products to meet their customer’s mortgage financing needs.

ABA Member Benefits:
  • Timely communications via newsletters, announcements and Web seminars that keep you current on critical issues facing the lending community
  • Free customizable marketing materials, available in Spanish and English, to enhance your customer outreach efforts
  • Reduced seller/servicer application fees
  • Access to the Selling Guide Support Team for underwriting and documentation assistance
Products
  • Flexible mortgage products for first-time and refinance customers
  • Time-saving technology that can automate your front-end processes and reduce
    your operating costs
  • Underwriting guidelines that emphasize the customer's ability to repay debt
  • Servicing policies that emphasize keeping customers in their home 
​​​​​​​​​​​
 

 Resources

 
HomeReady® mortgage is getting even better. Among several enhancements detailed in the July 26 Selling Guide Announcement (SEL-2016-06), we’ve simplified some HomeReady requirements and added more homeownership education and advising options to empower HomeReady buyers for smart homeownership.

  • Simplifying the requirements. HomeReady will no longer require homeownership education for refinances nor will it require landlord education for two- to four-unit properties.
  • Expanding options to meet consumer needs. We’re providing additional flexibility to meet the homeownership education requirement for borrowers using Community Seconds® or down payment assistance programs, and for borrowers who receive one-on-one assistance from independent, professional homeownership advisors (also known as housing counselors).
  • Deepening our commitment to sustainable homeownership. Later this year, we will introduce incentives for lenders to encourage more borrowers to take advantage of independent professional homeownership advisors. We will allow one-on-one assistance as a compensating factor in Desktop Underwriter® (DU®) to allow a debt-to-income (DTI) ratio higher than 45%, up to 50%, and we’ll give lenders a $500 LLPA credit at delivery (effective in a future DU release).
We’re making other HomeReady changes, including allowing home buyers to own other residential property. You can find details in the Selling Guide Announcement (SEL-2016-06), and please visit the HomeReady page to check out our updated resources. I look forward to talking with you about how HomeReady can help you reach new markets and expand access to credit responsibly.

Training pages on Fannie Mae's website. The redesigned pages make it easier for you to find the tools and resources you need based on your role, by the type of training that’s convenient for you, or by the applications you use. Offerings currently include:
  • HFI OnDemand: training that’s there for you when you need it: job aids, eLearning courses, FAQs, and more — all at no charge
  • HFI Spotlight: free live webinars on current policies and processes, as well as mortgage business fundamentals
  • HFI InDepth: training offered in a virtual classroom allows for more interactive and detailed instruction
The Quarterly Compass provides information on Fannie Mae initiatives and upcoming milestones.

A variety of resources and training are available to help you build effective strategies that focus on loan quality.

Manage Hedging Costs and Pipeline Risk with Fannie Mae's Best Efforts Program. ​​

Questions? Please contact Jerry Sebold for more information.



 

 Focus on Millennials

 
 

 Contacts

 
Corporation for American Banking
Jerry Sebold
Tel: 202-663-7540

Fannie Mae
Tammy Trefny
Senior Account Manager, Single Family Mortgage Business
Tel: 312-368-6218
fanniemae.com



 

 ABA Mortgage Resources