source:
  type: guide
  id: fnma-sel-b5-5.3-04
  authority: Fannie Mae Selling Guide B5-5.3-04 — Massachusetts Resale Restriction
    Loan Eligibility Requirements
  description: Fannie Mae Selling Guide B5-5.3-04 — Massachusetts Resale Restriction
    Loan Eligibility Requirements.
  coverage_tier: operative
obligations:
- id: fnma-sel-b5-5.3-04-full
  canonical_id: fnma-sel-b5-5.3-04-full
  section: Fannie Mae Selling Guide B5-5.3-04 — Massachusetts Resale Restriction Loan
    Eligibility Requirements
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B5-5.3-04 — Massachusetts Resale Restriction
      Loan Eligibility Requirements
    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: 'B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility
      Requirements (05/03/2023) Introduction This topic contains information on Massachusetts
      resale restriction loan eligibility requirements, including: Lender Eligibility
      Loan Eligibility Requirements Legal Considerations Lender Eligibility Fannie
      Mae may purchase loans in Massachusetts that are subject to the Aﬀordable Housing
      Restriction document without further approval from Fannie Mae. This includes
      any federal, state, or local subsidy program for properties located in Massachusetts.
      Use of the Aﬀordable Housing Restriction document (copies of which can be obtained
      from the Massachusetts Housing Finance Agency) without modiﬁcation, alteration
      or update, other than ﬁlling in the blanks or checking boxes contained in the
      form, eliminates the need for the lender to review the terms and conditions
      of the particular subsidy program with respect to loans delivered to Fannie
      Mae secured by properties in Massachusetts that are subject to resale restriction(s).
      Loan Eligibility Requirements Published May 6, 2026 791 The Massachusetts Housing
      Finance Agency requires the use of an Aﬀordable Housing Restriction document
      in connection with loans secured by properties in Massachusetts that are subject
      to resale restrictions that survive foreclosure or deed-in-lieu of foreclosure
      in which it will serve as lender or project administrator. Legal Considerations
      The Aﬀordable Housing Restriction document provides for third-party modiﬁcation
      by the foreclosing servicer and provides for a 120-day time period between notiﬁcation
      of foreclosure to the municipality by the foreclosing servicer and the completion
      of the repurchase of the property by the municipality. While Fannie Mae''s standard
      guidelines require a 90-day time period for notiﬁcation, use of this instrument
      for loans subject to a resale restriction secured by property in Massachusetts
      is acceptable without further approval from Fannie Mae. All other applicable
      requirements for resale restrictions continue to apply. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2023-04 May
      03, 2023 Chapter B5-6, HomeReady Mortgage Introduction This chapter describes
      product policies and requirements for HomeReady mortgage loans.'
  judgment: false
