B8-5-05, Requirements for Use of a Power of Attorney (10/05/2022)

A power of attorney (POA) is a legal document giving one person (described below as the “agent”) the power to legally bind another person. Loans with documentation executed by an agent on behalf of the borrower under a POA are eligible for delivery to Fannie Mae if all requirements referenced in this Guide are met.

When title to mortgaged property is held by a trustee under an inter vivos revocable trust, loan documentation may not be executed using a POA granted by such trustee unless,

the related trust instrument expressly authorizes the trustee to use a POA to delegate powers to an agent, or
the agent under the POA is the borrower creating such inter vivos revocable trust.

General Exception to Power of Attorney Requirements

If a lender determines that it is required by applicable law to accept a POA presented by a borrower, none of the following requirements for, or limitations on, the use of a POA apply. In such cases, the lender must include a written statement in the loan file that explains that determination. Such written statement must be provided to the document custodian with the POA.

Eligibility Requirements for Using a Power of Attorney

Purchase
Limited cash-out refinance

The lender obtains a copy of the POA.
The name(s) on the POA match the name(s) of the person on the relevant loan document.
The POA is dated such that it was valid at the time the relevant loan document was executed.
The POA is notarized.
The POA must reference the address of the subject property.

In jurisdictions where a POA used for a signature on a security instrument must be recorded with the security instrument, the lender must ensure that recordation has been effected.
If applicable law requires an original POA for enforcement or foreclosure purposes, an original must be forwarded to the document custodian.
If there is more than one borrower, each may execute the note and/or security instrument using a POA that complies with this section.

*A borrower’s relative includes any person defined as a relative in this Guide, or a person who is an individual engaged to marry the borrower, or is in a legally recognized mutual relationship with the borrower (however denominated under applicable local law).

Additional Conditions

The following are the additional conditions that must be met to qualify for a permitted exception in the table above.

The POA expressly states an intention to secure a loan not to exceed a stated amount from a named lender on a specific property.
The POA expressly authorizes the agent to execute the required loan documents on behalf of the borrower.
In a recorded, interactive session conducted via the internet, and to the satisfaction of the agent, the borrower must
- confirm their identity;
- after reviewing the required loan documents, reaffirm their agreement to the terms and conditions of the note and security instrument evidencing the transaction; and
- reaffirm their agreement to the execution of the loan documents by the agent.
Recent Related Announcements
The table below provides references to recently issued Announcements that are related to this topic.

Announcement Issue Date

Announcement SEL-2022-09 October 05, 2022

Announcement SEL-2021-02 March 03, 2021

Announcement SEL-2019-05 June 05, 2019

Have questions?

Get answers to your policy and guide questions, straight from the source.

Work with Fannie Mae
- Customer Login
- Password Reset
- Not a customer? Get Started
Products & Solutions
- Mortgage Products & Options
- Technology Apps & Solutions
Support & Resources
- Customer Service
- News & Events
- Learning Center
- Guide Forms
Other Sites
- The Marketing Center
- Fannie Mae's Consumer Website
- Duty to Serve
- Homepath
© 2024 Fannie Mae

Download PDF Guide

(Published: Sept 04 2024)

Selling Questions? Ask Poli

Get answers to Guide & policy questions with Fannie Mae's AI-powered search tool.

Guide Resources

Forms, announcements, lender letters, legal documents, and more.

Browse the Guide
- Part A Doing Business with Fannie Mae
  - Subpart A1, Approval Qualification
    - Chapter A1-1, Application and Approval of Seller/Servicer
      - A1-1-01, Application and Approval of Seller/Servicer
      - Chapter A2-1, Contractual Obligations for Sellers/Servicers
        
        A2-1-01, Contractual Obligations for Sellers/Servicers
        
        A2-1-02, Nature of Mortgage Transaction
        
        A2-1-03, Indemnification for Losses
        
        A2-2-01, Representations and Warranties Overview
        
        A2-2-02, Delivery Information and Delivery-Option Specific Representations and Warranties
        
        A2-2-03, Document Warranties
        
        A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties
        
        A2-2-05, Invalidation of Limited Waiver of Representations and Warranties
        
        A2-2-06, Representations and Warranties on Property Value
        
        A2-2-07, Life-of-Loan Representations and Warranties
        
        Section A2-3.1, Lender Breach of Contract
        
        A2-3.1-01, Lender Breach of Contract
        
        A2-3.1-02, Sanctions, Suspensions, and Terminations
        
        A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae
        
        A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility
        
        A2-3.2-03, Remedies Framework
        
        A2-3.3-01, Compensatory Fees
        
        Section A2-4.1, Establishment, Ownership, and Retention of Loan Files and Records
        
        A2-4.1-01, Establishing Loan Files
        
        A2-4.1-02, Ownership and Retention of Loan Files and Records
        
        A2-4.1-03, Electronic Records, Signatures, and Transactions
        
        A2-4.1-04, Notarization Standards
        
        A2-5-01, Fannie Mae Trade Name and Trademarks
        
        Chapter A3-1, Fannie Mae’s Technology Products
        
        A3-1-01, Fannie Mae’s Technology Products
        
        A3-2-01, Compliance With Laws
        
        A3-2-02, Responsible Lending Practices
        
        A3-3-01, Outsourcing of Mortgage Processing and Third-Party Originations
        
        A3-3-02, Concurrent Servicing Transfers
        
        A3-3-03, Other Servicing Arrangements
        
        A3-3-04, Document Custodians
        
        A3-3-05, Custody of Mortgage Documents
        
        A3-4-01, Confidentiality of Information
        
        A3-4-02, Data Quality and Integrity
        
        A3-4-03, Preventing, Detecting, and Reporting Mortgage Fraud
        
        A3-5-01, Fidelity Bond and Errors and Omissions Coverage Provisions
        
        A3-5-02, Fidelity Bond Policy Requirements
        
        A3-5-03, Errors and Omissions Policy Requirements
        
        A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events
        
        Chapter A4-1, Maintaining Seller/Servicer Eligibility: Overview
        
        A4-1-01, Maintaining Seller/Servicer Eligibility
        
        A4-1-02, Submission of Financial Statements and Reports
        
        A4-1-03, Report of Changes in the Seller/Servicer’s Organization
        
        A4-1-04, Submission of Irrevocable Limited Powers of Attorney
        
        Subpart B1, Loan Application Package
        
        Chapter B1-1, Application Package Documentation
        
        B1-1-01, Contents of the Application Package
        
        B1-1-02, Blanket Authorization Form
        
        B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns
        
        Chapter B2-1, Mortgage Eligibility
        
        Section B2-1.1, Occupancy Types
        
        B2-1.1-01, Occupancy Types
        
        B2-1.2-01, Loan-to-Value (LTV) Ratios
        
        B2-1.2-02, Combined Loan-to-Value (CLTV) Ratios
        
        B2-1.2-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios
        
        B2-1.2-04, Subordinate Financing
        
        B2-1.3-01, Purchase Transactions
        
        B2-1.3-02, Limited Cash-Out Refinance Transactions
        
        B2-1.3-03, Cash-Out Refinance Transactions
        
        B2-1.3-04, Prohibited Refinancing Practices
        
        B2-1.3-05, Payoff of Installment Land Contract Requirements
        
        B2-1.4-01, Fixed-Rate Loans
        
        B2-1.4-02, Adjustable-Rate Mortgages (ARMs)
        
        B2-1.4-03, Convertible ARMs
        
        B2-1.4-04, Temporary Interest Rate Buydowns
        
        B2-1.5-01, Loan Limits
        
        B2-1.5-02, Loan Eligibility
        
        B2-1.5-03, Legal Requirements
        
        B2-1.5-04, Escrow Accounts
        
        B2-1.5-05, Principal Curtailments
        
        B2-2-01, General Borrower Eligibility Requirements
        
        B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements
        
        B2-2-03, Multiple Financed Properties for the Same Borrower
        
        B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction
        
        B2-2-05, Inter Vivos Revocable Trusts
        
        B2-2-06, Homeownership Education and Housing Counseling
        
        B2-2-07, First-Generation Homebuyer Loans
        
        B2-3-01, General Property Eligibility
        
        B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing
        
        B2-3-03, Special Property Eligibility and Underwriting Considerations: Leasehold Estates
        
        B2-3-04, Special Property Eligibility Considerations
        
        B2-3-05, Properties Affected by a Disaster
        
        Chapter B3-1, Manual Underwriting
        
        B3-1-01, Comprehensive Risk Assessment
        
        B3-2-01, General Information on DU
        
        B3-2-02, DU Validation Service
        
        B3-2-03, Risk Factors Evaluated by DU
        
        B3-2-04, DU Documentation Requirements
        
        B3-2-05, Approve/Eligible Recommendations
        
        B3-2-06, Approve/Ineligible Recommendations
        
        B3-2-07, Refer with Caution Recommendations
        
        B3-2-08, Out of Scope Recommendations
        
        B3-2-09, Erroneous Credit Report Data
        
        B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report
        
        B3-2-11, DU Underwriting Findings Report
        
        Section B3-3.1, Employment and Other Sources of Income
        
        B3-3.1-01, General Income Information
        
        B3-3.1-02, Standards for Employment Documentation
        
        B3-3.1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income
        
        B3-3.1-04, Commission Income
        
        B3-3.1-05, Secondary Employment Income (Second Job and Multiple Jobs) and Seasonal Income
        
        B3-3.1-06, Requirements and Uses of IRS IVES Request for Transcript of Tax Return Form 4506-C
        
        B3-3.1-07, Verbal Verification of Employment
        
        B3-3.1-08, Rental Income
        
        B3-3.1-09, Other Sources of Income
        
        B3-3.1-10, Income Calculator
        
        B3-3.2-01, Underwriting Factors and Documentation for a Self-Employed Borrower
        
        B3-3.2-02, Business Structures
        
        B3-3.2-03, IRS Forms Quick Reference
        
        B3-3.3-01, General Information on Analyzing Individual Tax Returns
        
        B3-3.3-02, Income Reported on IRS Form 1040
        
        B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule C
        
        B3-3.3-04, Income or Loss Reported on IRS Form 1040, Schedule D
        
        B3-3.3-05, Income or Loss Reported on IRS Form 1040, Schedule E
        
        B3-3.3-06, Income or Loss Reported on IRS Form 1040, Schedule F
        
        B3-3.3-07, Income or Loss Reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1
        
        B3-3.4-01, Analyzing Partnership Returns for a Partnership or LLC
        
        B3-3.4-02, Analyzing Returns for an S Corporation
        
        B3-3.4-03, Analyzing Returns for a Corporation
        
        B3-3.4-04, Analyzing Profit and Loss Statements
        
        B3-3.5-01, Income and Employment Documentation for DU
        
        B3-3.5-02, Income from Rental Property in DU
        
        Section B3-4.1, General Asset Requirements
        
        B3-4.1-01, Minimum Reserve Requirements
        
        B3-4.1-02, Interested Party Contributions (IPCs)
        
        B3-4.1-03, Types of Interested Party Contributions (IPCs)
        
        B3-4.1-04, Virtual Currency
        
        B3-4.2-01, Verification of Deposits and Assets
        
        B3-4.2-02, Depository Accounts
        
        B3-4.2-03, Individual Development Accounts
        
        B3-4.2-04, Pooled Savings (Community Savings Funds)
        
        B3-4.2-05, Foreign Assets
        
        B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds
        
        B3-4.3-02, Trust Accounts
        
        B3-4.3-03, Retirement Accounts
        
        B3-4.3-04, Personal Gifts
        
        B3-4.3-05, Gifts of Equity
        
        B3-4.3-06, Grants and Lender Contributions
        
        B3-4.3-07, Disaster Relief Grants or Loans
        
        B3-4.3-08, Employer Assistance
        
        B3-4.3-09, Earnest Money Deposit
        
        B3-4.3-10, Anticipated Sales Proceeds
        
        B3-4.3-11, Trade Equity
        
        B3-4.3-12, Rent-Related Credits
        
        B3-4.3-13, Sweat Equity
        
        B3-4.3-14, Bridge/Swing Loans
        
        B3-4.3-15, Borrowed Funds Secured by an Asset
        
        B3-4.3-16, Credit Card Financing and Reward Points
        
        B3-4.3-17, Personal Unsecured Loans
        
        B3-4.3-18, Sale of Personal Assets
        
        B3-4.3-19, Cash Value of Life Insurance
        
        B3-4.3-20, Anticipated Savings and Cash-on-Hand
        
        B3-4.3-21, Borrower's Earned Real Estate Commission
        
        B3-4.4-01, DU Asset Verification
        
        B3-4.4-02, Requirements for Certain Assets in DU
        
        Section B3-5.1, Credit Scores
        
        B3-5.1-01, General Requirements for Credit Scores
        
        B3-5.1-02, Determining the Credit Score for a Mortgage Loan
        
        B3-5.2-01, Requirements for Credit Reports
        
        B3-5.2-02, Types of Credit Reports
        
        B3-5.2-03, Accuracy of Credit Information in a Credit Report
        
        B3-5.3-01, Number and Age of Accounts
        
        B3-5.3-02, Payment History
        
        B3-5.3-03, Previous Mortgage Payment History
        
        B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit
        
        B3-5.3-05, Credit Utilization
        
        B3-5.3-06, Authorized Users of Credit
        
        B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit
        
        B3-5.3-08, Extenuating Circumstances for Derogatory Credit
        
        B3-5.3-09, DU Credit Report Analysis
        
        B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit
        
        B3-5.4-02, Number and Types of Nontraditional Credit References
        
        B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History
        
        B3-6-01, General Information on Liabilities
        
        B3-6-02, Debt-to-Income Ratios
        
        B3-6-03, Monthly Housing Expense for the Subject Property
        
        B3-6-04, Qualifying Payment Requirements
        
        B3-6-05, Monthly Debt Obligations
        
        B3-6-06, Qualifying Impact of Other Real Estate Owned
        
        B3-6-07, Debts Paid Off At or Prior to Closing
        
        B3-6-08, DU: Requirements for Liability Assessment
        
        Chapter B4-1, Property Assessment and Valuation
        
        Section B4-1.1, General Appraisal Requirements
        
        B4-1.1-01, Definition of Market Value
        
        B4-1.1-02, Lender Responsibilities
        
        B4-1.1-03, Appraiser Selection Criteria
        
        B4-1.1-04, Unacceptable Appraisal Practices
        
        B4-1.1-05, Disclosure of Information to Appraisers
        
        B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP)
        
        B4-1.2-01, Appraisal Report Forms and Exhibits
        
        B4-1.2-02, Desktop Appraisals
        
        B4-1.2-03, Hybrid Appraisals
        
        B4-1.2-04, Appraisal Age and Use Requirements
        
        B4-1.2-05, Requirements for Verifying Completion and Postponed Improvements
        
        B4-1.3-01, Review of the Appraisal Report
        
        B4-1.3-02, Subject and Contract Sections of the Appraisal Report
        
        B4-1.3-03, Neighborhood Section of the Appraisal Report
        
        B4-1.3-04, Site Section of the Appraisal Report
        
        B4-1.3-05, Improvements Section of the Appraisal Report
        
        B4-1.3-06, Property Condition and Quality of Construction of the Improvements
        
        B4-1.3-07, Sales Comparison Approach Section of the Appraisal Report
        
        B4-1.3-08, Comparable Sales
        
        B4-1.3-09, Adjustments to Comparable Sales
        
        B4-1.3-10, Cost and Income Approach to Value
        
        B4-1.3-11, Valuation Analysis and Reconciliation
        
        B4-1.3-12, Appraisal Quality Matters
        
        B4-1.4-01, Factory-Built Housing: Manufactured Housing
        
        B4-1.4-02, Factory-Built Housing: Modular, Prefabricated, Panelized, or Sectional Housing
        
        B4-1.4-03, Condo Appraisal Requirements
        
        B4-1.4-04, Co-op Appraisal Requirements
        
        B4-1.4-05, Leasehold Interests Appraisal Requirements
        
        B4-1.4-06, Community Land Trust Appraisal Requirements
        
        B4-1.4-07, Mixed-Use Property Appraisal Requirements
        
        B4-1.4-08, Environmental Hazards Appraisal Requirements
        
        B4-1.4-09, Special Assessment or Community Facilities Districts Appraisal Requirements
        
        B4-1.4-10, Value Acceptance (Appraisal Waiver)
        
        B4-1.4-11, Value Acceptance + Property Data
        
        Section B4-2.1, General Project Standards
        
        B4-2.1-01, General Information on Project Standards
        
        B4-2.1-02, Waiver of Project Review
        
        B4-2.1-03, Ineligible Projects
        
        B4-2.1-04, Environmental Hazard Assessments
        
        B4-2.1-05, Unacceptable Environmental Hazards
        
        B4-2.1-06, Remedial Actions for Environmental Hazard Assessments Below Standards
        
        B4-2.2-01, Limited Review Process
        
        B4-2.2-02, Full Review Process
        
        B4-2.2-03, Full Review: Additional Eligibility Requirements for Units in New and Newly Converted Condo Projects
        
        B4-2.2-04, Geographic-Specific Condo Project Considerations
        
        B4-2.2-05, FHA-Approved Condo Review Eligibility
        
        B4-2.2-06, Project Eligibility Review Service (PERS)
        
        B4-2.2-07, Projects with Special Considerations and Project Eligibility Waivers
        
        B4-2.3-01, Eligibility Requirements for Units in PUD Projects
        
        B4-2.3-02, Co-op Project Eligibility
        
        B4-2.3-03, Legal Requirements for Co-op Projects
        
        B4-2.3-04, Loan Eligibility for Co-op Share Loans
        
        B4-2.3-05, Geographic-Specific Co-op Project Considerations
        
        Chapter B5-1, High-Balance Mortgage Loans
        
        B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting
        
        B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations
        
        B5-2-01, Manufactured Housing
        
        B5-2-02, Manufactured Housing Loan Eligibility
        
        B5-2-03, Manufactured Housing Underwriting Requirements
        
        B5-2-04, Manufactured Housing Pricing, Mortgage Insurance, and Loan Delivery Requirements
        
        B5-2-05, Manufactured Housing Legal Considerations
        
        Section B5-3.1, Conversion of Construction-to-Permanent Financing
        
        B5-3.1-01, Conversion of Construction-to-Permanent Financing: Overview
        
        B5-3.1-02, Conversion of Construction-to-Permanent Financing: Single-Closing Transactions
        
        B5-3.1-03, Conversion of Construction-to-Permanent Financing: Two-Closing Transactions
        
        B5-3.2-01, HomeStyle Renovation Mortgages
        
        B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility
        
        B5-3.2-03, HomeStyle Renovation Mortgages: Collateral Considerations
        
        B5-3.2-04, HomeStyle Renovation Mortgages: Costs and Escrow Accounts
        
        B5-3.2-05, HomeStyle Renovation Mortgages: Completion Certification
        
        B5-3.2-06, HomeStyle Renovation: Renovation Contract, Renovation Loan Agreement, and Lien Waiver
        
        B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties
        
        B5-3.4-01, Property Assessed Clean Energy Loans
        
        Section B5-4.1, General Requirements of Texas Section 50(a)(6) Loans
        
        B5-4.1-01, Texas Section 50(a)(6) Loans
        
        B5-4.1-02, Texas Section 50(a)(6) Loan Eligibility
        
        B5-4.1-03, Texas Section 50(a)(6) Loan Underwriting, Collateral, and Closing Considerations
        
        B5-4.1-04, Texas Section 50(a)(6) Loan Delivery and Servicing Considerations
        
        B5-4.2-01, Native American Conventional Lending Initiative (NACLI)
        
        B5-4.2-02, Disaster-Related Limited Cash-Out Refinance Flexibilities
        
        B5-4.2-03, Loans Secured by HomePath Properties
        
        Section B5-5.1, Community Seconds
        
        B5-5.1-01, Community Seconds Loans
        
        B5-5.1-02, Community Seconds Loan Eligibility
        
        B5-5.1-03, Community Seconds: Shared Appreciation Transactions
        
        B5-5.2-01, Loans With Resale Restrictions: General Information
        
        B5-5.2-02, Loans with Resale Restrictions: Eligibility, Collateral and Delivery Requirements
        
        B5-5.3-01, Shared Equity Overview
        
        B5-5.3-02, Shared Equity Transactions: General Requirements
        
        B5-5.3-03, Shared Equity Transactions: Eligibility, Underwriting and Collateral Requirements
        
        B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility Requirements
        
        B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility
        
        B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements
        
        B5-6-03, HomeReady Mortgage Loan Pricing, Mortgage Insurance, and Special Feature Codes
        
        B5-7-01, High LTV Refinance Loan and Borrower Eligibility
        
        B5-7-02, High LTV Refinance Underwriting, Documentation, and Collateral Requirements for the New Loan
        
        B5-7-03, High LTV Refinance Alternative Qualification Path
        
        B5-7-04, High LTV Refinance Representations and Warranties
        
        B5-7-05, High LTV Refinance Pricing, Mortgage Insurance, and Special Feature Codes
        
        Chapter B6-1, Government Insured and Guaranteed Mortgages
        
        B6-1-01, General Government Mortgage Loan Requirements
        
        B6-1-02, Eligible FHA-Insured Mortgage Loans
        
        B6-1-03, Eligible VA-Guaranteed Mortgages
        
        B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages
        
        B6-1-05, Eligible RD-Guaranteed Mortgages
        
        Chapter B7-1, Mortgage Insurance/Loan Guaranty
        
        B7-1-01, Provision of Mortgage Insurance
        
        B7-1-02, Mortgage Insurance Coverage Requirements
        
        B7-1-03, Lender-Purchased Mortgage Insurance
        
        B7-1-04, Financed Borrower-Purchased Mortgage Insurance
        
        B7-1-05, Government Mortgage Loan Guaranty or Insurance
        
        B7-2-01, Provision of Title Insurance
        
        B7-2-02, Title Insurer Requirements
        
        B7-2-03, General Title Insurance Coverage
        
        B7-2-04, Special Title Insurance Coverage Considerations
        
        B7-2-05, Title Exceptions and Impediments
        
        B7-2-06, Attorney Title Opinion Letter Requirements
        
        B7-3-01, General Property Insurance Requirements for All Property Types
        
        B7-3-02, Property Insurance Requirements for One-to Four-Unit Properties
        
        B7-3-03, Master Property Insurance Requirements for Project Developments
        
        B7-3-04, Individual Property Insurance Requirements for a Unit in a Project Development
        
        B7-3-05, Additional Insurance Requirements
        
        B7-3-06, Flood Insurance Requirements for All Property Types
        
        B7-3-07, Evidence of Property Insurance
        
        B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements
        
        B7-4-01, General Liability Insurance Requirements for Project Developments
        
        B7-4-02, Fidelity/Crime Insurance Requirements for Project Developments
        
        Chapter B8-1, General Information on Legal Documents
        
        B8-1-01, Publication of Legal Documents
        
        B8-2-01, Security Instruments for Conventional Mortgages
        
        B8-2-02, Special-Purpose Security Instruments
        
        B8-2-03, Signature Requirements for Security Instruments
        
        B8-3-01, Notes for Conventional Mortgages
        
        B8-3-02, Special Note Provisions and Language Requirements
        
        B8-3-03, Signature Requirements for Notes
        
        B8-3-04, Note Endorsement
        
        B8-4-01, Riders and Addenda
        
        B8-5-01, General Information on Special-Purpose Legal Documents
        
        B8-5-02, Inter Vivos Revocable Trust Mortgage Documentation and Signature Requirements
        
        B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements
        
        B8-5-04, Sample Legal Documents
        
        B8-5-05, Requirements for Use of a Power of Attorney
        
        B8-6-01, Authorized Use of Intervening and Blanket Assignments
        
        B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc.
        
        B8-8-01, General Information on eMortgages
        
        B8-8-02, Requirements for Creating, Closing, and Correcting eNotes
        
        Subpart C1, General Information on Execution Options and Loan Delivery
        
        Chapter C1-1, Execution Options Overview
        
        C1-1-01, Execution Options
        
        C1-2-01, General Information on Delivering Loan Data and Documents
        
        C1-2-02, Loan Data and Documentation Delivery Requirements
        
        C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests
        
        C1-2-04, Delivering eMortgages to Fannie Mae
        
        C1-2-05, Delivering Green MBS to Fannie Mae
        
        C1-2-06, Bailee Letters
        
        C1-3-01, General Information on Remittance Types
        
        Chapter C2-1, Mandatory and Best Efforts Commitments to Sell Whole Loans
        
        Section C2-1.1, Mandatory Commitments to Sell Whole Loans
        
        C2-1.1-01, Mandatory Commitment Process
        
        C2-1.1-02, General Information about Mandatory Commitment Pricing and Fees
        
        C2-1.1-03, Mandatory Commitment Terms, Amounts, Periods and Other Requirements
        
        C2-1.1-04, Mandatory Commitment Extensions and Pair-Offs
        
        C2-1.1-05, Servicing Fees
        
        C2-1.1-06, Accrued Interest Payments for Regularly Amortizing Mortgages
        
        C2-1.1-07, Standard ARM and Converted ARM Resale Commitments
        
        C2-1.2-01, Best Efforts Commitment Process
        
        C2-1.2-02, Best Efforts Commitment Pricing, Periods, and Fees
        
        C2-1.2-03, Best Efforts Commitment Terms, Amounts, and Other Requirements
        
        C2-1.3-01, Servicing Marketplace
        
        C2-2-01, General Requirements for Good Delivery of Whole Loans
        
        C2-2-02, Documentation Requirements for Whole Loan Deliveries
        
        C2-2-03, General Information on Whole Loan Purchasing Policies
        
        C2-2-04, Timing of Distribution of Whole Loan Purchase Proceeds
        
        C2-2-05, Whole Loan Purchasing Process
        
        C2-2-06, Authorization to Transfer Funds
        
        C2-2-07, Purchase Payee Codes
        
        Chapter C3-1, MBS Program Overview
        
        C3-1-01, General Information About Fannie Mae’s MBS Program
        
        C3-1-02, Preparing to Pool Loans into MBS
        
        C3-2-01, Determining Eligibility for Loans Pooled into MBS
        
        C3-2-02, Selecting a Servicing Option
        
        C3-2-03, MBS Remittance Type and Selecting a Remittance Cycle
        
        C3-2-04, Mandatory MBS Commitments
        
        C3-3-01, Determining and Remitting Guaranty Fees
        
        C3-3-02, Accessing Buyup and Buydown Ratios and Calculating Payments or Charges
        
        C3-3-03, Buying Up and Buying Down the Guaranty Fee for MBS
        
        C3-4-01, Term-Related Fixed-Rate Mortgage Pooling Parameters
        
        C3-5-01, Creating Weighted-Average ARM MBS
        
        C3-5-02, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Fixed MBS Margin
        
        C3-5-03, Calculating the Weighted-Average Pool Accrual Rates for ARM Flex Pools Using a Weighted-Average MBS Margin
        
        C3-5-04, Pooling ARMs with a Conversion Option
        
        C3-5-05, Commingling ARMs in MBS
        
        C3-6-01, Parameters for Pooling Loans Into Fannie Majors
        
        C3-7-01, Establishing an MBS Trading Account
        
        C3-7-02, Initiating an MBS Sale
        
        C3-7-03, Making Good Delivery
        
        C3-7-04, Delivering MBS Pool Data and Documents
        
        C3-7-05, Confirming Presettlement Information
        
        C3-7-06, Settling the Trade
        
        C3-7-07, Sale of Fannie Mae Securities to Third Parties
        
        Subpart D1, Lender QC Process
        
        Chapter D1-1, Lender Quality Control Process
        
        D1-1-01, Lender Quality Control Programs, Plans, and Processes
        
        D1-1-02, Lender Quality Control Staffing and Outsourcing of the Quality Control Process
        
        D1-2-01, Lender Prefunding Quality Control Review Process
        
        D1-3-01, Lender Post-Closing Quality Control Review Process
        
        D1-3-02, Lender Post-Closing Quality Control Review of Approval Conditions, Underwriting Decisions, and Documentation
        
        D1-3-03, Lender Post-Closing Quality Control Review of Data Integrity
        
        D1-3-04, Lender Post-Closing Quality Control Review of Appraisers, Appraisals, Property Data Collectors, and Property Data Collection
        
        D1-3-05, Lender Post-Closing Quality Control Review of Closing Documents
        
        D1-3-06, Lender Post-Closing Quality Control Reporting, Record Retention, and Audit
        
        Chapter D2-1, General Information on Fannie Mae QC Process
        
        D2-1-01, General Information on Fannie Mae QC Reviews
        
        D2-1-02, Fannie Mae QC File Request and Submission Requirements
        
        D2-1-03, Outcomes of Fannie Mae QC Reviews
        
        D2-1-04, Identifying and Remedying Origination Defects Under the Remedies Framework
        
        Chapter E-1, Selling Guide Resources
        
        E-1-01, References to Fannie Mae's Website
        
        E-1-02, List of Contacts
        
        E-1-03, List of Lender Contracts
        
        E-2-01, Required Custodial Documents
        
        E-2-02, Suggested Format for Phase I Environmental Hazard Assessments
        
        E-2-03, Revocable Trust Rider (Sample Language)
        
        E-2-04, Signature Requirements for Mortgages to Inter Vivos Revocable Trusts
        
        E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement
        
        E-2-06, Correcting Errors in eNotes
        
        E-2-07, Description of eNote Header, Footer, and eNote Clause
        
        E-3-01, Acronyms and Glossary of Defined Terms: A
        
        E-3-02, Acronyms and Glossary of Defined Terms: B
        
        E-3-03, Acronyms and Glossary of Defined Terms: C
        
        E-3-04, Acronyms and Glossary of Defined Terms: D
        
        E-3-05, Acronyms and Glossary of Defined Terms: E
        
        E-3-06, Acronyms and Glossary of Defined Terms: F
        
        E-3-07, Acronyms and Glossary of Defined Terms: G
        
        E-3-08, Acronyms and Glossary of Defined Terms: H
        
        E-3-09, Acronyms and Glossary of Defined Terms: I
        
        E-3-10, Acronyms and Glossary of Defined Terms: J
        
        E-3-11, Acronyms and Glossary of Defined Terms: K
        
        E-3-12, Acronyms and Glossary of Defined Terms: L
        
        E-3-13, Acronyms and Glossary of Defined Terms: M
        
        E-3-14, Acronyms and Glossary of Defined Terms: N
        
        E-3-15, Acronyms and Glossary of Defined Terms: O
        
        E-3-16, Acronyms and Glossary of Defined Terms: P
        
        E-3-17, Acronyms and Glossary of Defined Terms: Q
        
        E-3-18, Acronyms and Glossary of Defined Terms: R
        
        E-3-19, Acronyms and Glossary of Defined Terms: S
        
        E-3-20, Acronyms and Glossary of Defined Terms: T
        
        E-3-21, Acronyms and Glossary of Defined Terms: U
        
        E-3-22, Acronyms and Glossary of Defined Terms: V
        
        E-3-23, Acronyms and Glossary of Defined Terms: W
        
        E-3-24, Acronyms and Glossary of Defined Terms: X
        
        E-3-25, Acronyms and Glossary of Defined Terms: Y
        
        E-3-26, Acronyms and Glossary of Defined Terms: Z

Announcement	Issue Date
Announcement SEL-2022-09	October 05, 2022
Announcement SEL-2021-02	March 03, 2021
Announcement SEL-2019-05	June 05, 2019

B8-5-05, Requirements for Use of a Power of Attorney (10/05/2022)

General Exception to Power of Attorney Requirements

Eligibility Requirements for Using a Power of Attorney

Have questions?

Work with Fannie Mae

Products & Solutions

Support & Resources

Other Sites

Download PDF Guide

Selling Questions? Ask Poli

Guide Resources

Browse the Guide