MPF Announcement 2020-59

MPF Xtra Selling Guide Updates

Effective Date: Immediately (unless otherwise noted)

On September 2, 2020 Fannie Mae issued Selling Guide Announcement SEL-2020-05 which covered the below referenced topics that are applicable to loans sold under the MPF Xtra product:

• Clarified accessory dwelling unit property eligibility requirements and updated comparable sales requirements for the appraisal.
• Updated the Selling Guide based on common questions pertaining to non-occupant borrowers.

Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra. To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.