source:
  type: guide
  id: fnma-svc-f-1-28
  authority: Fannie Mae Servicing Guide F-1-28 — Reviewing a Transfer of Ownership
    for Credit and Financial Capacity
  description: Fannie Mae Servicing Guide F-1-28 — Reviewing a Transfer of Ownership
    for Credit and Financial Capacity.
  coverage_tier: operative
obligations:
- id: fnma-svc-f-1-28-full
  canonical_id: fnma-svc-f-1-28-full
  section: Fannie Mae Servicing Guide F-1-28 — Reviewing a Transfer of Ownership for
    Credit and Financial Capacity
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide F-1-28 — Reviewing a Transfer of Ownership
      for Credit and Financial Capacity
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
    snapshot_id: cf63a82bbb4adfba
    fetched_at: '2026-05-22T23:53:19Z'
    content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
    paragraph_quote: 'F-1-28, Reviewing a Transfer of Ownership for Credit and Financial
      Capacity (03/11/2026) Prior to approving a release of liability, the servicer
      must determine that the transferee''s credit and ﬁnancial capacity is acceptable
      as required in Chapter D1-4, Transfers of Ownership and D1-1-01, Evaluating
      a Request for the Release, or Partial Release, of Property Securing a Mortgage
      Loan, as applicable. The servicer must refer to the following topics to determine
      whether the transferee''s credit and ﬁnancial capacity is acceptable in accordance
      with Fannie Mae''s underwriting guidelines: Selling Guide B1-1, Application
      Package Documentation; Selling Guide B2-2, Borrower Eligibility; Selling Guide
      B3-3, Income Assessment; Selling Guide B3-4, Asset Assessment; Selling Guide
      B3-5, Credit Assessment; and Selling Guide B3-6, Liability Assessment. For a
      mortgage loan that has not been modiﬁed, the servicer is authorized to use Fannie
      Mae''s automated underwriting system, Desktop Underwriter (DU) (see the Selling
      Guide B3-2, Desktop Underwriter (DU)) to determine the transferee''s credit
      and ﬁnancial capacity. If a servicer is not authorized to access DU, the servicer
      can obtain access by contacting Fannie Mae (see F-4-02, List of Contacts). If
      utilizing DU, the servicer must submit the transaction as a limited cash-out
      reﬁnance in DU, and use the original value of the property as deﬁned in the
      Selling Guide. Published May 13, 2026 695 Note: For a mortgage loan that has
      been modiﬁed, the servicer must contact Fannie Mae to determine the transferee''s
      credit and ﬁnancial capacity (see F-4-02, List of Contacts). The servicer must
      follow the procedures in Obtaining MI Approval for a Conventional Mortgage Loan
      in F-1-17, Processing a Transfer of Ownership for information on obtaining mortgage
      insurer approval, if applicable. The following table provides the requirements
      for evaluating a request for a release of liability. If the servicer has determined
      that the transferee... Then the servicer... is capable of assuming the mortgage
      loan obligation and the mortgage loan • does not have MI, or • has MI and the
      mortgage insurer agrees to the release is authorized to approve the release
      of liability. is capable of assuming the mortgage loan obligation but the mortgage
      loan has MI and the mortgage insurer does not agree to the release must deny
      the request for the release of liability, although the transfer may still be
      processed without a release of liability. Note: The denial must state the mortgage
      insurer’s decision as its reason for not approving the request. is not capable
      of assuming the mortgage loan obligation must deny the request for release of
      liability, although the transfer may still be processed without a release of
      liability. Recent Related Announcements The table below provides references
      to recently issued Announcements that are related to this topic. Announcements
      Issue Date Announcement SVC-2026-02 March 11, 2026 Announcement SVC-2019-04
      June 12, 2019 Chapter F-2, Exhibits Introduction This chapter contains the exhibits
      referenced within this Servicing Guide. Published May 13, 2026 696'
  judgment: false
