Blocked Person Compliance | Fannie Mae Multifamily Guide

Guide Update 23-21

: Blocked Person Compliance

Effective: 09/25/23

Retired: 05/16/24

Associated Documents:

Summary of Changes:

HIGHLIGHTS
Effective for all Mortgage Loans as of September 25, 2023, clarifying updates were made to the identification and reporting requirements in: Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 308: Compliance; and Part V, Chapter 5: Surveillance, Section 505: Compliance.

HIGHLIGHTS

Effective for all Mortgage Loans as of September 25, 2023, clarifying updates were made to the identification and reporting requirements in:

Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals, Section 308: Compliance; and
Part V, Chapter 5: Surveillance, Section 505: Compliance.

Primary Changes

Added a new definition for "Blocked Person".
Before Delivery and monthly thereafter, you must:
- confirm every Borrower, Key Principal, Principal, and Guarantor is not a Blocked Person;
- report any Blocked Person to Lender Risk Management within 24 hours; and
- comply with all related processes and documentation requirements.

Questions

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