MPF Xtra Selling Updates – FNMA SEL-2023-10
Effective Date: Immediately (unless otherwise noted)
Fannie Mae published SEL-2023-10, which covers the below referenced topics that are applicable to mortgage loans sold under the MPF Xtra product:
- Clarified the employment offers or contract policy to reinforce that an employment offer or contract for future employment from a family member or interested party to the transaction is prohibited.
- Clarified the shared appreciation policy with regard to unauthorized transfers of ownership or change inoccupancy status.
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.
- MPF Announcement 2023-96