Lender Letters

Fannie Mae is updating several Loan Documents for a technical clarification and state law developments.

Fannie Mae is updating the Loan Documents for additional reserve escrows required by a recent update to Fannie Mae’s Multifamily Underwriting Standards (Form 4660) in response to the ongoing COVID-19 national emergency.

Effective March 10, 2020, Fannie Mae will:

• update and rename the form Modifications to Multifamily Loan and Security Agreement (Green Rewards Mortgage Loan) (Form 6241); and
• update the Loan Document Requirements (Form 6000) and Table of Contents (Form 6502).

Effective February 04, 2020, Fannie Mae will update the form Loan Documents required for a Mortgage Loan with Healthy Housing Rewards Healthy Design.

Fannie Mae is announcing a modification to the Loan Agreement for new loans secured by properties in King County, Washington.

Fannie Mae is announcing updates to the loan documents and a new set of Seniors Housing loan documents which may be used immediately and must be used in connection with all loans committed on and after August 19, 2019.

Effective June 14, 2019, Fannie Mae will update the Modifications to Multifamily Loan and Security Agreement (Green Mortgage Loan) (Form 6241), required for all Green Mortgage Loans.

Fannie Mae is revising Schedule 2 of the Loan Agreement– Summary of Loan Terms for adjustable rate loans to clarify that an adjustment factor may be applied in determining a new replacement index for LIBOR.

As part of Fannie Mae’s commitment to more fully leverage delegation under the DUS® program and expedite the underwriting and closing processes, we are pleased to announce the following updates to our loan documents. We are also updating our counsel designation request forms to expedite processing for interest rate hedge transactions.

To facilitate Lenders’ ability to deliver and store electronic documents, Lenders may use electronic signatures on:

• All documents between Lender and Borrower, other than Loan Documents, and
• All items to be delivered in Folder II of the Mortgage Loan Delivery Package pursuant to Part IVA, Section 502.02 of the Multifamily Selling and Servicing Guide (Guide). Electronic signatures must comply with applicable federal and state law.