source:
  type: guide
  id: fnma-sel-b3-5.3-03
  authority: Fannie Mae Selling Guide B3-5.3-03 — Previous Mortgage Payment History
  description: Fannie Mae Selling Guide B3-5.3-03 — Previous Mortgage Payment History.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-5.3-03-full
  canonical_id: fnma-sel-b3-5.3-03-full
  section: Fannie Mae Selling Guide B3-5.3-03 — Previous Mortgage Payment History
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-5.3-03 — Previous Mortgage 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: 'B3-5.3-03, Previous Mortgage Payment History (07/25/2017) Introduction
      This topic contains information on previous mortgage payment history requirements,
      including: Documenting Previous Mortgage History Standard Mortgage Veriﬁcations
      from Servicers Existing Mortgage Payment Requirements Excessive Mortgage Delinquency
      Documenting Previous Mortgage History The lender must review the borrower''s
      credit report to determine the status of all mortgage accounts. If a borrower
      had previous mortgages, the lender does not have to independently verify the
      mortgage’s payment history provided the credit report includes a reference to
      the mortgage (or mortgages) and reﬂects 12 months of the most recent payment
      activity. If adequate mortgage payment history is not included in the borrower’s
      credit report, the lender must use the following to verify the borrower’s payment
      history on a previous mortgage(s): a standard mortgage veriﬁcation; loan payment
      history from the servicer; the borrower’s canceled checks for the last 12 months;
      or the borrower’s year-end mortgage account statement, provided the statement
      includes a payment receipt history, and, if applicable, canceled checks for
      the months elapsed since the year-end mortgage account statement was issued.
      Standard Mortgage Veriﬁcations from Servicers When a lender relies on standard
      mortgage veriﬁcations from servicers or holders, it must ensure that the veriﬁcations
      include: the unpaid principal balance of the mortgage and monthly payment amount;
      the present status of the mortgage, such as current, 30 days’ delinquent, etc.;
      and the borrower’s payment history. When a servicer fails to provide all of
      the requested information, the lender must rely on information provided through
      the borrower’s canceled checks. The checks must: be legible, identify the mortgage
      servicer or mortgage holder as the payee, Published May 6, 2026 468 indicate
      that the servicer or holder endorsed the check for deposit, and indicate the
      date the servicer or holder deposited the check. Existing Mortgage Payment Requirements
      On the date of the loan application, the borrower’s existing mortgage must be
      current, which means that no more than 45 days may have elapsed since the last
      paid installment date. Excessive Mortgage Delinquency The lender must review
      the borrower’s credit history to determine previous mortgage delinquency, severity
      (e.g., 30, 60, or 90 days), and recency of the delinquency. Loans with excessive
      prior mortgage delinquencies are not eligible for delivery to Fannie Mae. Excessive
      prior mortgage delinquency is deﬁned as any mortgage tradeline that has one
      or more 60-, 90-, 120-, or 150-day delinquency reported within the 12 months
      prior to the credit report date. See B3-5.3-02, Payment History, and B3-5.3-07,
      Signiﬁcant Derogatory Credit Events — Waiting Periods and Re-establishing Credit
      for additional information. Note: For purposes of complying with the guidelines
      in this topic, timeshare accounts identiﬁed as mortgage tradelines are not required
      to meet the requirements described above, and are considered to be installment
      accounts. Recent Related Announcements There are no recently issued Announcements
      related to this topic.'
  judgment: false
