Servicing Guide

Published October 14, 2020

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

Before approving a transfer of ownership for a pledged-asset mortgage loan, the servicer must determine that the pledged asset will remain in place through the assignment of the original pledged asset or the substitution of a new asset of equivalent value. The servicer must contact its Fannie Mae Servicing Representative (see F-4-03, List of Contacts) to discuss the acceptability of a substitute asset or any other alternative the purchaser proposes.

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?

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

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

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.

Guide Resources

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