Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages

fnma-sel-b8-3-01

Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages.

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Verbatim provisions from Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages — 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 B8-3-01 — Notes for Conventional Mortgages

Effective 2020-09-02 · publisher's stamp for this provision

B8-3-01, Notes for Conventional Mortgages (09/02/2020) Introduction This topic contains information on notes for conventional loans, including: Use of Conventional First Mortgage Notes Adjustable-Rate Mortgage Notes Use of Conventional First Mortgage Notes Lenders should use the note that is correct for the applicable mortgage type, lien type, property type, and product type for regularly amortizing conventional mortgages that are closed on the Fannie Mae/Freddie Mac uniform security instruments. Fannie Mae publishes state-specific fixed-rate notes for ten jurisdictions (although they are not available for all products). The multistate note can be used in most jurisdictions unless the security property is located in a jurisdiction for which Fannie Mae publishes a state-specific mortgage note. The various notes that are used for fixed-rate mortgages may be found on Fannie Mae's Legal Documents website. Authorized changes that must or may be made to these documents are set out in the instructions that accompany each document. Adjustable-Rate Mortgage Notes Generally, notes for adjustable-rate mortgages apply to specific ARM plans. Fannie Mae does not publish state-specific notes for all ARM plans. If Fannie Mae does not publish state-specific documents for a particular ARM plan, the lender must use the multistate note for that particular ARM plan and amend it as necessary to satisfy the requirements of the jurisdiction in which the security property is located. Required amendments may be incorporated by reprinting the amended documents, adding addenda to the documents, or making the changes on the documents themselves. The various notes that are used for ARMs may be found on Fannie Mae's Legal Documents website. Authorized changes that must or may be made to these documents are set out in the instructions that accompany each document.

Source: Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages · source URL · snapshot 2897f21e1e729b42

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b8-3-01/ · register fnma-sel-b8-3-01 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.