Guaranty Agreement Extension

A borrower may request an extension of a guaranty agreement placed as additional security for a mortgage loan by a principal to the transaction. As the servicer, you must monitor earn out and expiration dates for guaranty agreements.

The table below lists the key points to consider in reviewing a request to extend a guaranty agreement.

Guide Reference

Not applicable

Delegation Criteria

If the borrower does not meet the requirements specified in the guaranty agreement, you may deny the request. You do not need to notify Fannie Mae unless the agreement is expiring and the mortgage loan would need to be paid down.

Fannie Mae must approve any request to extend a guaranty agreement. You must submit your request 30 days before the agreement expires to allow time for legal review.

What to Submit

Submit the following to Fannie Mae with your request:

  • Copy of the borrower’s request
  • Copy of the guaranty agreement and all amendments
  • Certified rent rolls covering the period specified in the guaranty agreement
  • Audited operating statement(s) covering the period(s) specified in the guaranty agreement
  • Any other documentation required by the agreement, if applicable
  • Servicer’s narrative
    • Property name and address
    • Fannie Mae loan number
    • Reason for the request
    • Analysis of the operating statement(s) – if the condition covers three or six consecutive months, provide an analysis for each month
    • The original underwriting analysis
    • Analysis of the rent roll – if the condition covers three or six consecutive months, provide an analysis for each month
    • Your recommendation

If the mortgage loan is in default, include that information in your request. Be sure to keep a copy of all the width="70" in your servicing file.

How to Submit

Generally: [email protected].

Structured Facilities*
(Credit Facilities and Bulk Deliveries): [email protected]

Seniors Housing*: [email protected]

Hard Copy (if required by Fannie Mae)
Fannie Mae
Credit Services/Drawer AM
Mailstop 8H-607
3900 Wisconsin Ave. NW
Washington, DC 20016

*Please contact us at these e-mail addresses for requirements specific to these financing types.


Review fee: $5,000 split evenly between you and Fannie Mae.

Extension fee: Fannie Mae will charge a fee only if the extension is approved; the fee is split evenly between you and Fannie Mae.

Wire any fees due to Fannie Mae to the following account no later than 10 business days after you receive them. Include the type of fee or deposit, property name and Fannie Mae loan number.

ABA Number: 021 039 500
Telegraphic Abbreviation: FNMA/NYC
Account Number: 169220242
Note: Type of fee (Assumption or Partial Release), the Fannie Mae Loan Number and the Property Name.
Attn: Trans code 538 - GL 747669921


If we approve the request to extend the terms and conditions of the guaranty agreement, you should prepare and submit to Drawer AM an amendment to the guaranty agreement blacklined against the most recent version of the agreement. You do not have delegated authority to execute the amendment to the guaranty agreement.

If we deny the request, follow the instructions in the guaranty agreement for paying down the mortgage loan. Forward your payoff calculation to the applicable Asset Management mailbox and to Fannie Mae’s Multifamily Operations team at [email protected] for review and approval.

Always consult the loan document, transaction document, your servicing agreement, the Multifamily Guide and the relevant forms for complete instructions.

© 2011 Fannie Mae. Trademarks of Fannie Mae.