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MPF Xtra Selling Updates – FNMA SEL-2025-07
Effective Date: Immediately (unless otherwise noted)
Fannie Mae published SEL-2025-07 which covers the below referenced topics that are applicable to mortgage loans sold under the MPF Xtra product:
- Retirement of “appraisal waiver”:
- To more accurately reflect the evolving role of valuation solutions, the term “appraisal waiver” will no longer be used in conjunction with “value acceptance.”
- Rescission of reconsideration of value components:
- Revised two requirements of the framework for a borrower-initiated reconsideration of value.
- Expansion of MH Advantage:
- Expanding eligibility requirements to include single-width MH Advantage® homes.
- Establishing borrower ownership interest – life estates:
- Updated the requirements to clarify fee simple ownership of a security property held in a life estate under property law as an eligible form of property ownership.
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.
For questions or assistance, please contact the MPF Service Center by using one of the following options:
- MPF Customer Service Portal
- [email protected]
- Phone: (877) 345-2673