Applications

Uniform Residential Loan Application

Important information

FNMA’s policies for Bankruptcy and Foreclosure

Please note that FHA and VA guidelines are different.

With this Announcement, Fannie Mae is introducing several new and updated policies that pertain to the following topics:
• Bankruptcy and foreclosure policies: updates to manual underwriting requirements for borrowers with prior bankruptcy or foreclosure actions in their credit history, including deeds-in-lieu of foreclosure and preforeclosure sales,
• Conversion of principal residence to second home or investment property: new requirements for borrowers who are purchasing a new principal residence, and intend to convert their existing principal residence to a second home or investment property, and
• Representation and warranty requirements: revised property value representation and warranty requirements for mortgage loans that are closed more than 6 months up to 12 months prior to the date the loan is sold to Fannie Mae.