Servicing Guide

Published October 14, 2020

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Are there certain transfers of ownership for first lien mortgage loans that the servicer can approve if the purchaser is creditworthy?

The servicer is authorized to allow transfers of ownership for the following first lien mortgage loans if all of the criteria listed below are satisfied:

  • All ARMs and GPARMs, except for the following:

    • those closed under ARM Plans 975, 1029, and 1103;

    • those that have extended fixed-rate periods (ARM Plans 659, 660, 661, 750, 751, 1423, 1437, 2724, 2725, 2726, 2727, 2728, 2729, 3223, 3224, 3225, 3226, 3227, 3228, 3252 (except as limited for those plans that may be used for Texas Section 50(a)(6) loans), if the transfer would take place during the fixed-rate period); and

    • those that have been converted to fixed-rate mortgage loans.

  • Fixed-rate portfolio mortgage loans that Fannie Mae purchased under commitment contracts dated before November 10, 1980 unless

    • the purchase of the property is financed directly or indirectly with wraparound or secondary financing from an institutional lender, or

    • Fannie Mae has pooled a mortgage loan originally held as a portfolio mortgage loan to back an MBS. Fannie Mae will notify the servicer when it does this.

See below for related Q&A's:

When should we refer to the participating lender’s policy on a conventional mortgage loans that includes a Due-on-Sale Provision?

How is a property purchaser determined to be creditworthy for a transfer of ownership?

Are there any requirements that must be followed prior to approving a transfer of ownership for a pledged-asset mortgage loan?

Are second lien mortgage loans assumable?

For more information please see: D-1-4.2-02: Conventional Mortgage Loans That Include a Due-On-Sale (or Due-on-Transfer) Provision

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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