source:
  type: guide
  id: fnma-sel-b8-3-01
  authority: Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages
  description: Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages.
  coverage_tier: operative
obligations:
- id: fnma-sel-b8-3-01-full
  canonical_id: fnma-sel-b8-3-01-full
  section: Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B8-3-01 — Notes for Conventional Mortgages
    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: '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. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2020-05 September
      02, 2020 Announcement SEL-2019-01 February 06, 2019 Published May 6, 2026 896'
  judgment: false
