This Balloon Mortgage Loan Servicing Manual (Manual) incorporates all Fannie Mae servicing-related policies and procedures for single-family balloon mortgage loans. This Manual is incorporated into the Servicing Guide by reference. In the event that the Manual and the Servicing Guide are conflicting, the servicer must follow the requirements set forth in the Servicing Guide.
This Manual is organized into chapters:
- Chapter 1: Notifying the Borrower of Balloon Mortgage Loan Maturity
- Chapter 2: Processing the Refinancing of a Matured Balloon Mortgage Loan
- Chapter 3: Performing Final Accounting and Reporting for a Balloon Mortgage Loan
To learn more about the details on the content included in a chapter, see the Table of Contents.
Effective Dates for the Manual
Each topic within the Manual is followed by a date shown in parentheses. With the publication of the new Manual, this date will represent the date of the most recent Servicing Announcement that amended content within an individual topic. The servicer must refer to the individual Announcement to locate the policy effective date.
The Manual is available on AllRegs and in Adobe® PDF format on Fannie Mae’s website. Related Announcements, Lender Letters, and Notices may be obtained through a variety of mediums, including:
using a free electronic version on the AllRegs website through a link from Fannie Mae’s website;
a subscription paid directly to AllRegs for an enhanced electronic version with additional features and a higher degree of functionality (than the free version); and
in PDF format on Fannie Mae’s website.
Amendments to the Manual
Fannie Mae may at any time alter or waive any of the requirements of this Manual, impose other additional requirements, or rescind or amend any and all material set forth in this Manual. The servicer must ensure that its staff is thoroughly familiar with the content and requirements of the Manual as it now exists and as it may be changed.
Notification of Changes and Manual Updates
Fannie Mae notifies servicers of changes and updates to its Manual policies and procedures, as communicated in Announcements, Lender Letters, and Notices, in two ways:
posting the documents on Fannie Mae’s website and the AllRegs website, and
emailing notification of those postings to servicers that subscribe to Fannie Mae’s email subscription service and select the option “Servicing News.”
Forms, Exhibits, and Content Incorporated by Reference
The Manual provides information about the specific forms servicers must use to fulfill Fannie Mae’s requirements. Servicers can access the actual forms on Fannie Mae’s website.
Some materials are only referenced in the Manual and are posted in their entirety on Fannie Mae’s website. All forms and exhibits – whether it currently exists or is subsequently created – referenced in the Manual now or later are legally a part of this Manual, the Servicing Guide and Fannie Mae’s contract with its servicers.
In the event of technical difficulties or system failures with Fannie Mae’s website, the delivery of the “Servicing News” option of Fannie Mae’s email subscription service, or the AllRegs website, users may contact the following resources:
For Fannie Mae’s website and Fannie Mae’s email subscription service, use the “Contact Us” link on the website to ask questions or obtain more information or contact Fannie Mae’s Single-Family Technology Support at 1-800-2FANNIE (1-800-232-6643).
For the AllRegs website, submit an e-mail support request from the website or contact AllRegs Customer Service at 1-800-848-4904