source:
  type: guide
  id: fnma-sel-a4-1-02
  authority: Fannie Mae Selling Guide A4-1-02 — Submission of Financial Statements
    and Reports Published May 6, 2026 141
  description: Fannie Mae Selling Guide A4-1-02 — Submission of Financial Statements
    and Reports Published May 6, 2026 141.
  coverage_tier: operative
obligations:
- id: fnma-sel-a4-1-02-full
  canonical_id: fnma-sel-a4-1-02-full
  section: Fannie Mae Selling Guide A4-1-02 — Submission of Financial Statements and
    Reports Published May 6, 2026 141
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide A4-1-02 — Submission of Financial Statements
      and Reports Published May 6, 2026 141
    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: 'A4-1-02, Submission of Financial Statements and Reports Published
      May 6, 2026 141 (05/01/2024) Introduction This topic contains information on
      ﬁnancial statements and reports, including: Financial Reporting Requirements
      Lender Record Information Form Financial Reporting Requirements The seller/servicer
      must demonstrate its ﬁnancial adequacy to Fannie Mae. To accomplish this, Fannie
      Mae requires the seller/servicer to submit ﬁnancial statements and other information
      described in this topic. A seller/servicer’s failure to timely provide the required
      information may result in Fannie Mae declaring a breach of the Lender Contract.
      A seller/servicer must submit their annual Audited Financial Statement (AFS)
      within 90 days after the end of the seller/servicer’s ﬁscal year. The requirements
      for the AFS are described in the following table. ✓ The seller/servicer''s AFS
      must... be prepared under Generally Accepted Accounting Principles (GAAP). include
      the opinion of an independent public accountant. be comparative with the previous
      year’s reports. include all of the following: • a balance sheet, • an income
      statement, • a statement of retained earnings, • a statement of additional paid-in
      capital, • a statement of changes in ﬁnancial position, and • all related notes.
      If the seller/servicer’s ﬁnancial statement is consolidated with those of its
      parent or holding company, they must contain suﬃcient detail to enable Fannie
      Mae to review the seller/servicer’s ﬁnancial data separately from that of the
      other companies. The AFS must be sent electronically to Fannie Mae’s Lender
      Eligibility and Compliance Unit (see E-1-02, List of Contacts). For submission
      instructions, see the Audited Financial Statement (AFS) page. Published May
      6, 2026 142 The following table lists additional requirements and exceptions
      for certain types of sellers/servicers. Unless otherwise noted, the statement
      and other information must be submitted within 90 days after the end of the
      seller/servicer’s ﬁscal year and sent electronically to Fannie Mae’s Lender
      Eligibility and Compliance Unit (see E-1-02, List of Contacts). If the seller/servicer
      is... Then... A state- or federally-supervised depository institution The seller/servicer
      may submit its latest published ﬁnancial statements if audited statements are
      not available yearly so long as it certiﬁes in writing that it does not get
      yearly audited statements and that the published statements are the same as
      those submitted to its supervising authority. A balance sheet, income statement,
      and statement of changes in ﬁnancial position must also be submitted if they
      are not included in the published statements. Not a supervised depository institution,
      but is a HUD-approved mortgagee A seller/servicer may submit a copy of the annual
      ﬁnancial audit report required by HUD instead of sending separate ﬁnancial statements.
      A mortgage banker, a subsidiary of a federally supervised depository institution,
      housing ﬁnance agency, or real estate investment trust In addition to the AFS,
      the seller/servicer must submit a Mortgage Bankers’ Financial Reporting Form
      (Form 1002) that has been certiﬁed by the chief executive oﬃcer, the chief ﬁnancial
      oﬃcer, or equivalent at the end of each calendar quarter. Each report must include
      only the ﬁnancial data related to the quarterly reporting period for which the
      report is being submitted. The seller/servicer must electronically submit this
      information within 30 days for the March 31, June 30, and September 30 reports
      and within 60 days for the December 31 report. A seller/servicer that operates
      under an accounting cycle other than the standard calendar quarterly cycle does
      not need to change its methodology, but must ensure that the information submitted
      with each reporting period includes data for only the quarter required for that
      speciﬁc report. Published May 6, 2026 143 If the seller/servicer is... Then...
      A large non-depository seller/servicer (as deﬁned in A4-1-01, Maintaining Seller/Servicer
      Eligibility) In addition to the required quarterly reporting, a large non-depository
      seller/servicer must electronically submit a Mortgage Bankers'' Financial Reporting
      Short Form (Form 1002A) within 30 days of the end of each month. The report
      must be certiﬁed by the chief executive oﬀer, the chief ﬁnancial oﬃcer, or equivalent.
      Each report must include only the ﬁnancial data related to the month preceding
      the month in which the report is being submitted. The seller/servicer is not
      required to provide a monthly report for each third month of any ﬁscal quarter,
      as the data will be captured in the quarterly report. For example, for a quarter
      consisting of April - June, the seller/servicer is not required to report Form
      1002A in July for June monthly ﬁnancial data. Additional Requirements for Financial
      Information In addition, Fannie Mae may, at any time, require a seller/servicer
      to submit unaudited ﬁnancial statements, audited ﬁnancial statements other than
      the annual statements (if reasonably available), or any other ﬁnancial information
      that Fannie Mae considers necessary and reasonable. Fannie Mae also has the
      right to require more frequent and more detailed ﬁnancial reporting from a seller/servicer
      or additional ﬁnancial requirements imposed by Fannie Mae on the seller/servicer.
      Lender Record Information Form The Lender Record Information ( Form 582) provides
      information needed to verify that the seller/servicer continues to meet Fannie
      Mae''s basic eligibility requirements as well as certiﬁcations regarding compliance
      with our requirements. The seller/servicer must update its Form 582 electronically
      no later than 90 days after the end of the seller/servicer’s ﬁscal year. If
      there are changes to the lender''s record information, the seller/servicer must
      update Form 582 and provide Fannie Mae with written notiﬁcation in the form
      of an email to the Changes in Lender Organization mailbox (see E-1-02, List
      of Contacts) within ﬁve business days of the occurrence of any of the following:
      any actions pending, starting, or to the seller/servicer''s knowledge, threatened
      against or involving the seller/servicer that could reasonably be expected to
      have a material adverse eﬀect on the seller/servicer''s ability to comply with
      provisions of the Lender Contract, its ﬁnancial status, servicing operations,
      or mortgage operations; a breach of certain agreements, in accordance with A4-1-01,
      Maintaining Seller/Servicer Eligibility; any material and adverse change in
      the circumstances and qualiﬁcations that were in place for Fannie Published
      May 6, 2026 144 Mae''s consideration at the later of: the time of the seller/servicer''s
      approval in accordance with A4-1-01, Maintaining Seller/Servicer Eligibility,
      or Fannie Mae''s most recent selling operational or servicing quality review;
      and any change, event, or circumstance that has or could reasonably be expected
      to have a material adverse eﬀect on the lender''s origination of loans, the
      servicing of Fannie Mae loans, or on the ﬁnancial or business condition or operations
      of the seller/servicer, or the ability to comply with the Lender Contract; any
      change in principal oﬃcers, or any change in owners or partners with a direct
      or indirect interest of 5% or more in the company. Note: The Authorization for
      Veriﬁcation of Credit and Business References (Form 1001) must also be submitted
      within ﬁve business days to reﬂect any change in principal oﬃcers, or any change
      in owners or partners with a direct or indirect interest of 5% or more in the
      company. See Fannie Mae''s website for information on obtaining user IDs to
      access and submit the online Form 582 and the AFS. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2024-03 May
      01, 2024 Announcement SEL-2023-11 December 13, 2023 Announcement SEL-2021-08
      September 01, 2021 Announcement SEL-2020-07 December 16, 2020 Announcement SEL-2020-03
      June 03, 2020'
  judgment: false
