Guide Update 24-02
:
Blocked Person and Undisclosed Principals
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HIGHLIGHTS |
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Effective for Mortgage Loans Committed as of March 11, 2024, clarified the underwriting information for undisclosed Principals and Blocked Persons in Part I, Chapter 3: Borrower, Guarantor, Key Principals, and Principals. |
Primary Change
Clarified that you must not deliver a Mortgage Loan with undisclosed Principals or a Blocked Person with edits in
- Section 303: Key Principals, Principals, and Guarantors, and
- Section 308: Compliance.
Questions
Please contact the Fannie Mae Deal Team with any questions.