Fannie Mae Selling Guide A3-5-04 — Reporting Fidelity Bond and Errors and Omissions Events
Fannie Mae Selling Guide A3-5-04 — Reporting Fidelity Bond and Errors and Omissions Events.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Selling Guide A3-5-04 — Reporting Fidelity Bond and Errors and Omissions Events — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide A3-5-04 — Reporting Fidelity Bond and Errors and Omissions Events
A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events (12/04/2019) Introduction This topic contains information on reporting fidelity bond and errors and omissions events. Reporting Fidelity Bond and Errors and Omissions Events Reporting Fidelity Bond and Errors and Omissions Events The seller/servicer must report to Fannie Mae within 30 days after discovery of the occurrence of a single fidelity bond or errors and omissions policy loss that is mortgage related and the amount exceeds the lesser of $250,000 or the policy’s deductible, even when no claim will be filed or when Fannie Mae’s interest will not be affected. In addition, the seller/servicer must report to Fannie Mae within ten business days of receipt of a notice from the insurer regarding the intended cancellation, reduction, nonrenewal, or restrictive modification of the seller/servicer’s fidelity bond or errors and omissions policy. The seller/servicer must send Fannie Mae a copy of the insurer’s notice, describe in detail the reason for the insurer’s action if it is not stated in the notice, and explain the efforts it has made to obtain replacement coverage or to otherwise satisfy Fannie Mae’s insurance requirements. See E-1-02, List of Contacts for the email address for reporting. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2019-09 December 04, 2019 Published May 6, 2026 133 Subpart A4, Maintaining Seller/Servicer Eligibility Introduction This subpart contains the requirements to which sellers/servicers must adhere in order to maintain their eligibility to transact business with Fannie Mae. It describes the financial statements, operational reports, and Lender Record information that sellers/servicers must submit to Fannie Mae, and it addresses the types of organizational changes and events for which sellers/servicers must notify Fannie Mae in writing. Chapter A4-1, Maintaining Seller/Servicer Eligibility: Overview Introduction This chapter describes the requirements a seller/servicer must satisfy to maintain or reactivate its status as a Fannie Mae-approved seller/servicer. Reactivated sellers/servicers may again deliver loans to Fannie Mae and/or service Fannie Mae loans (and subservice loans for other Fannie Mae-approved servicers). It also includes information on the submission of the irrevocable limited power of attorney to Fannie Mae.