source:
  type: guide
  id: fnma-sel-b3-5.3-02
  authority: Fannie Mae Selling Guide B3-5.3-02 — Payment History
  description: Fannie Mae Selling Guide B3-5.3-02 — Payment History.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-5.3-02-full
  canonical_id: fnma-sel-b3-5.3-02-full
  section: Fannie Mae Selling Guide B3-5.3-02 — Payment History
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-5.3-02 — Payment History
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: B3-5.3-02, Payment History (04/01/2009) Introduction This topic
      contains information on the borrower’s payment history. Payment History Payment
      History The lender must review the borrower’s credit report to determine the
      current status of each credit account (including mortgage accounts), the timeliness
      of payments, and the frequency, recency, and severity of any delinquent payments.
      Credit histories that include no late payments, collection or charged-oﬀ accounts,
      foreclosures, deeds-in- lieu, bankruptcies, or other public records information
      represent a lower credit risk. Credit histories that include recent late payments
      represent a higher credit risk than those with late payments that occurred more
      than 24 months ago. When there are payments that were 30, 60, or 90 days (or
      longer) past due, the lender must determine whether the late payments represent
      isolated incidences or frequent occurrences. Delinquent payments must be evaluated
      in the context of the borrower’s overall credit history, including the number
      and age of accounts, credit utilization, and recent attempts to obtain new credit.
      For example, a credit history that includes delinquent payments along with recent
      inquiries and a high balances-to-limits ratio indicates a high credit risk.
      Credit histories that include foreclosures, deeds-in-lieu, and public records
      information (such as bankruptcies, judgments, and liens) represent a higher
      credit risk. The greater the number of such incidences and the more recently
      they occurred, the higher the credit risk. For information about mortgage payment
      history, see B3-5.3-03, Previous Mortgage Payment History. Recent Related Announcements
      There are no recently issued Announcements related to this topic. Published
      May 6, 2026 467
  judgment: false
