source:
  type: guide
  id: fnma-sel-d2-1-04
  authority: Fannie Mae Selling Guide D2-1-04 — Identifying and Remedying Origination
    Defects Under the Remedies Framework
  description: Fannie Mae Selling Guide D2-1-04 — Identifying and Remedying Origination
    Defects Under the Remedies Framework.
  coverage_tier: operative
obligations:
- id: fnma-sel-d2-1-04-full
  canonical_id: fnma-sel-d2-1-04-full
  section: Fannie Mae Selling Guide D2-1-04 — Identifying and Remedying Origination
    Defects Under the Remedies Framework
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide D2-1-04 — Identifying and Remedying Origination
      Defects Under the Remedies Framework
    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: 'D2-1-04, Identifying and Remedying Origination Defects Under
      the Remedies Framework (08/30/2016) Introduction This topic describes the process
      that Fannie Mae will follow to identify defects and allow corrections and remedies
      for loans covered by the remedies framework, including: Deﬁnitions of Remedy
      and Correction Overview of Process Deﬁnitions of Remedy and Correction The actions
      that constitute a remedy or a correction for loans covered by the remedies framework
      are described below. A “remedy” is an action elected by Fannie Mae to resolve
      a signiﬁcant defect pursuant to the Lender Contract in eﬀect at the time of
      loan purchase. (See A2-3.2-03, Remedies Framework, for additional information.)
      A “correction” is an action taken by a lender (typically through delivery of
      documentation or information to Fannie Mae) that demonstrates that a signiﬁcant
      defect did not, in fact, exist at the time of loan purchase or securitization;
      or has been corrected in the time frame and manner speciﬁed in the Lender Contract
      such that the defect is no longer considered by Fannie Mae to be a signiﬁcant
      defect. One example of a correction is a “de minimis correction,” which is a
      minor amount not to exceed $500 (or such higher amount as the lender and Fannie
      Mae may agree) that, when remitted, refunded, or otherwise provided, corrects
      or otherwise resolves an identiﬁed signiﬁcant defect. However, a “de minimis
      correction” cannot be made when the correction would result in a speciﬁc required
      minimum borrower contribution not being met, or to correct a violation of Fannie
      Mae’s Charter requirements. Another example of a correction is the acquisition
      of required insurance. Published May 6, 2026 1067 Overview of Process The steps
      that Fannie Mae and lenders will follow for mortgage loans covered by the remedies
      framework to identify, correct, appeal, and remedy defects are described below.
      Step 1—Identiﬁcation of Findings, PALs, and Signiﬁcant Defects After a full-ﬁle
      quality control review is completed, Fannie Mae will designate any defect(s)
      as a ﬁnding, a PAL, or a signiﬁcant defect. As a reminder, the scope of the
      full-ﬁle quality control review remains the same for performing loans and non-performing
      loans. Note: Fannie Mae also checks mortgage loans for data discrepancies (which
      could be independent of a full-ﬁle quality control review) that may result in
      the assessment of an LLPA. If Fannie Mae designates a defect as a ﬁnding, a
      correction or remedy will not be required. However, a data update may be required.
      If Fannie Mae designates a defect as resulting in a PAL, the lender must pay
      the applicable LLPA that should have been paid when the mortgage loan was purchased
      by Fannie Mae had the true and accurate facts about the mortgage loan been known
      at the time of purchase. Fannie Mae may not demand repurchase of a PAL and the
      lender may not voluntarily repurchase a PAL. If Fannie Mae identiﬁes a signiﬁcant
      defect, Fannie Mae will require repurchase of the mortgage loan or may oﬀer
      the lender a repurchase alternative. Step 2—Correcting Certain Signiﬁcant Defects
      During the appeal and impasse processes, a lender has the right to provide a
      correction of any signiﬁcant defect in the speciﬁed time frame and in the manner
      required by the Lender Contract. Any additional documentation or information
      that the lender provides is subject to the same standard of quality control
      review as the initial mortgage ﬁle documentation. In the event that the Lender
      Contract does not specify the time frame and manner required for the correction
      of a particular signiﬁcant defect, Fannie Mae shall determine if the signiﬁcant
      defect has been corrected. There may be times when the determination of whether
      or not a defect has been corrected cannot be determined by Fannie Mae, but rather
      needs to be determined by the purchaser of an acquired property, its title insurer
      or the investor of the purchaser’s mortgage loan. For example, the determination
      of whether there has been a correction of a certain title defect may hinge on
      whether the purchaser of the acquired property is willing to pay full market
      value for the subject property, given the title defect and the steps taken to
      attempt to correct the title defect. The documentation submitted to correct
      a signiﬁcant defect must be based on information or data that either: was available
      at the time of underwriting (and no later than the note date ), or covers the
      time of underwriting so long as such evidence meets the applicable documentation
      requirements set forth in the Lender Contract. Note: Lenders have the ability
      to correct defects during the appeal and impasse processes related to Published
      May 6, 2026 1068 property, ﬂood, or mortgage insurance. If the lender does not
      repurchase the loan or perform any repurchase alternative in accordance with
      the Lender Contract, the lender continues to have the obligation to correct
      any signiﬁcant defect in accordance with the Lender Contract. Step 3—Fannie
      Mae Review of Lender Response and Mortgage Loan Reassessment During the appeal
      and impasse processes, Fannie Mae will conduct a mortgage loan reassessment
      by reviewing any corrections submitted by the lender in accordance with the
      applicable Lender Contract in order to determine whether a signiﬁcant defect
      still exists. If, following the reassessment, Fannie Mae determines that the
      lender submitted documentation and/or information or took all necessary steps
      to correct all signiﬁcant defects in accordance with the Lender Contract, Fannie
      Mae will rescind or close out, as applicable, the demand. the lender corrected
      some, but not all, of the signiﬁcant defects that had been identiﬁed on a mortgage
      loan, Fannie Mae will reaﬃrm the demand and the lender must comply with the
      demand on a timely basis. all signiﬁcant defects were corrected but any remaining
      defects now cause the mortgage loan to be a PAL, or the loan is now determined
      to be a PAL, the lender must pay Fannie Mae the LLPA that should have been paid
      when the mortgage loan was purchased by Fannie Mae had the true and accurate
      facts about the mortgage loan been known at the time of purchase. it cannot
      determine if all signiﬁcant defects were corrected because the decision is up
      to the purchaser of the acquired property, Fannie Mae may defer its determination
      until the subject property has been placed on the market in order to obtain
      feedback on the marketability of the title of the subject property. At any time
      during the appeals process, a lender has the right to propose a repurchase alternative
      following the identiﬁcation of a signiﬁcant defect. Fannie Mae will in good
      faith consider and respond to the lender’s proposed repurchase alternative.
      Fannie Mae may oﬀer or decline to oﬀer the lender certain repurchase alternatives
      based on the lender’s counterparty status to the extent there are future obligations
      required as part of the repurchase alternative. Other factors to be considered
      by Fannie Mae may include, but are not limited to, the failure to maintain a
      quality loan origination process and the lender’s ability and willingness to
      comply with other provisions of the Lender Contract. Step 4—Range of Possible
      Outcomes As described in A2-3.2-02, Enforcement Relief for Breaches of Certain
      Representations and Warranties Related to Underwriting and Eligibility, certain
      loans may be eligible for enforcement relief under Version 2 of the framework
      based on the satisfactory conclusion of a full-ﬁle quality control review. The
      designation of a defect and the loan’s status as corrected or remedied will
      determine whether a loan is eligible for enforcement relief, as detailed below.
      Finding: If the loan has had a full-ﬁle quality control review completed with
      only ﬁndings discovered, the loan is eligible for enforcement relief subject
      to any life-of-loan representations and warranties. If a loan has not had a
      full-ﬁle quality control review, it may still receive relief through other provisions
      under the framework. Published May 6, 2026 1069 PAL: If the PAL has had a full-ﬁle
      quality control review completed without the identiﬁcation of any signiﬁcant
      defects, the loan will receive enforcement relief subject to any life-of-loan
      representations and warranties, when the lender pays the LLPA. Loans that have
      not had a full-ﬁle quality control review, will not receive representation and
      warranty enforcement relief, even upon the payment of an LLPA, but may still
      receive relief through other provisions under the framework. A lender may appeal
      a PAL designation. The appeals process for a PAL will result in one of the following
      outcomes: rescission of the request for the payment of the LLPA, or payment
      of the LLPA. Signiﬁcant Defect: If the loan with a signiﬁcant defect has had
      a full-ﬁle quality control review, it will receive enforcement relief if all
      signiﬁcant defects have been corrected; or a repurchase alternative has been
      oﬀered and accepted, and fully executed and completed by the lender in compliance
      with any related terms, including the expiration of all applicable time frames.
      The appeal process for mortgage loans with signiﬁcant defects may result in
      a range of outcomes, including: rescission or close out, as appropriate, of
      the demand because all signiﬁcant defects have been corrected; a deferred demand
      in the event that Fannie Mae cannot determine whether or not there has been
      a correction because the purchaser of the subject property or its title company
      or investor is the real party in interest to make the decision as to whether
      a title defect has been corrected; agreement on a repurchase alternative; or
      the lender fulﬁlls the demand. If a repurchase alternative is oﬀered on a loan
      with a signiﬁcant defect, the lender can conclude that a full-ﬁle quality control
      review has been completed. However, if a repurchase alternative is oﬀered on
      a loan where a lender self-reports a defect, the lender cannot conclude that
      a full-ﬁle quality control review has occurred nor is representation and warranty
      relief granted. Recent Related Announcements There are no recently issued Announcements
      related to this topic. Published May 6, 2026 1070 Part E, Quick Reference Materials
      Introduction This part provides reference materials to support this Guide. Published
      May 6, 2026 1071 Chapter E-1, Selling Guide Resources Introduction This chapter
      provides resources to support this Guide. E-1-01, References to Fannie Mae''s
      Website (06/04/2025) Introduction The following table contains a list of key
      documents and Web pages that are referenced in this Guide or that lenders may
      ﬁnd helpful. Lenders must obtain the documents listed below from Fannie Mae''s
      website (or any successor site). Name Location Area Median Incomes https://ami-lookup-tool.fanniemae.com/amilookuptool/
      https://singlefamily.fanniemae.com/media/document/xlsx/income-eligibility-census-tract-lookup-spreadsheet
      Appraiser Independence Requirements https://singlefamily.fanniemae.com/media/document/pdf/appraiser-independence-requirements-air
      Condo Project Manager (CPM) https://singlefamily.fanniemae.com/applications-technology/condo-project-manager
      Desktop Underwriter Job Aids https://singlefamily.fanniemae.com/job-aid/new-desktop-underwriter/topic/welcomenew.htm
      Eligibility Matrix https://singlefamily.fanniemae.com/media/document/pdf/eligibility-matrix-current
      eMortgage Technical Requirements https://singlefamily.fanniemae.com/media/document/pdf/emortgage-technical-requirements
      Fannie Mae Connect https://singlefamily.fanniemae.com/applications-technology/fannie-mae-connect
      Fannie Mae Information Security and Business Resiliency Supplement https://www.fanniemae.com/media/document/pdf/information-security-and-business-resiliency-supplement
      Fannie Mae Selling Guide Uniform Appraisal Dataset (UAD) 3.6 Policy Supplement
      (UAD 3.6 Policy Supplement) https://singlefamily.fanniemae.com/media/document/pdf/fannie-mae-selling-guide-supplement-uniform-appraisal-dataset-uad-36-policy
      Fannie Mae Requirements for Document Custodians (RDC guide) https://singlefamily.fanniemae.com/media/document/pdf/requirements-document-custodians
      Homeownership Education https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/homeownership-education
      Loan Limits for Conventional Mortgages https://singlefamily.fanniemae.com/originating-underwriting/loan-limits
      Loan-Level Price Adjustment (LLPA) Matrix https://singlefamily.fanniemae.com/media/document/pdf/llpa-matrix-pdf
      Loan Quality Connect https://singlefamily.fanniemae.com/applications-technology/loan-quality-connect
      Published May 6, 2026 1072 Name Location Mortgage-Backed Securities https://capitalmarkets.fanniemae.com/mortgage-backed-securities
      Mortgage Fraud Prevention https://singlefamily.fanniemae.com/mortgage-fraud-prevention
      Mortgage Products https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products
      Pricing & Execution https://singlefamily.fanniemae.com/pricing-execution Seller/Servicer-Initiated
      Post-Purchase Adjustments https://singlefamily.fanniemae.com/servicing/sellerservicer-initiated-post-purchase-adjustments
      Single-Family MBS Prospectuses & Related Documents https://capitalmarkets.fanniemae.com//mortgage-backed-securities/mbs-prospectuses
      Special Feature Codes https://singlefamily.fanniemae.com/media/document/pdf/special-feature-codes
      Standard ARM Plan Matrix https://singlefamily.fanniemae.com/media/document/pdf/standard-arm-plan-matrix
      Uniform Collateral Data Portal (UCDP) https://singlefamily.fanniemae.com/applications-technology/uniform-collateral-data-portal
      Uniform Loan Delivery Dataset (ULDD) https://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-loan-delivery-dataset
      E-1-02, List of Contacts (02/04/2026) Introduction This topic contains contact
      information for Fannie Mae and other resources referenced in this Guide. Name
      Contact Information Purpose Capital Markets Operations Allocations 800-752-4233
      202-752-5384 capmrktsops_tradeconﬁrmation@fanniemae.com pool_info@fanniemae.com
      mbs_pairoﬀs@fanniemae.com For verifying MBS trade information For communicating
      TBA pool notiﬁcations and trade pair-oﬀs Capital Markets Asset Middle Oﬃce /
      Margins Asset_Middle_Oﬃce@fanniemae.com For questions on margin calls Published
      May 6, 2026 1073 Name Contact Information Purpose Capital Markets Pricing and
      Sales Desk 800-752-0257 (Whole Loan and MBS) 866-944-3863 (Early Funding) 202-752-7875
      (Structured Transaction Group) For trading MBS, selling whole loans, hedging
      pipelines, obtaining best execution information, and other related inquiries
      Changes in Lender Organization organization_change@fanniemae.com To send Fannie
      Mae advance written notice of any contemplated major changes in the lender’s
      organization including Form 1001, as applicable. Condo Project Manager (CPM)
      Management Team cpm_manage@fanniemae.com For inquiries related to CPM. Custodian
      Oversight and Monitoring custodian_oversight@fanniemae.com 2000 Opportunity
      Way, Reston VA 20190 For inquiries about document custody or for requests to
      move loans from one custodian to another Customer Support (Single-Family Technology
      Support) 800-2FANNIE (800-232-6643) 800–917–9291 (Uniform Collateral Data Portal)
      For subscription inquiries; technical, billing, reporting, and registration
      inquiries for licensed users of Fannie Mae technology products and services
      Published May 6, 2026 1074 Name Contact Information Purpose Defense Manpower
      Data Center https://mla.dmdc.osd.mil/mla/#/home To obtain veriﬁcation of employment
      for military personnel Digital Data Control Team - LQC DDC_inventory@fanniemae.com
      Fannie Mae Loan Quality Center Granite Park VII 5600 Granite Parkway Plano,
      TX 75024 For inquiries related to loan ﬁle and documentation submissions. eMortgage
      Custodian Oversight Department eMortgage_Custody@fanniemae.com For inquiries
      or requests related to eNote custodial transfers eMortgage Group eMortgage_Group@fanniemae.com
      For eNote or eClosing inquiries not related to custodial transfer and questions
      related to delivery and certiﬁcation of eNotes. Fannie Mae Assignment Address
      Fannie Mae Mail Drawer: Assignments 1100 15th Street, NW Washington, DC 20005
      For assignments Fannie Mae Credit Portfolio Management Granite Park VII 5600
      Granite Parkway Plano, Texas 75024 800-2FANNIE (800-232-6643) For information
      related to servicing mortgage loans. Fannie Mae Ethics email: fm_ethics@fanniemae.com
      Phone: 888-FM-ETHICS(888–363–8442 Web: https://www.fanniemae.com/fmethics For
      reporting penalties (civil or criminal) or enforcement actions for compliance
      failures or violations related to anti-money laundering requirements. Published
      May 6, 2026 1075 Name Contact Information Purpose Fidelity Bond and Errors and
      Omissions ﬁdelity_bond_and_errors_and_omissions_claims@fanniemae.com For reporting
      ﬁdelity bond and errors and omissions losses and policy changes Fannie Mae Websites
      https://singlefamily.fanniemae.com For information about Fannie Mae’s single-family
      mortgage business solutions and doing business with Fannie Mae http://www.fanniemae.com/portal/index.html
      Corporate website Fixed-Income Investor Helpline 800-2FANNIE (800-232-6643)
      For information related to ﬁxed- income securities, including MBS, debentures,
      and preferred stock Fannie Mae Oﬃces https://www.fanniemae.com/about-us/contact-us
      To connect with us by mail, email, or phone Lender Eligibility and Compliance
      Unit Audited Financial Statement (AFS) page For submission of ﬁnancial reports
      Loan Quality Center (LQC) Digital Data Control Team LQC File Receipt and Assignment
      DDC_inventory@fanniemae.com Fannie Mae Loan Quality Center Granite Park VII
      5600 Granite Parkway Plano, TX 75024 For inquiries related to loan ﬁle and/or
      documentation submissions. Published May 6, 2026 1076 Name Contact Information
      Purpose MERS Program Oﬃce mers_users@fanniemae.com To notify Fannie Mae of the
      termination of a seller/servicer’s relationship with MERS Mortgage Fraud Reporting
      https://ﬁms.my.salesforce-sites.com/MortgageFraudReport/ 800-2FANNIE (800-232-6643)
      To report suspected fraudulent mortgage activities and suspicious activity related
      to Fannie Mae business activities Mortgage Operations For less than 50 adjustments:
      LSDU Loan Servicing Data Utility For more than 50 adjustments: post_purchaseadjustments@fanniemae.com
      To request post- purchase adjustments Mortgage Record Change Form Address Fannie
      Mae Attn: Government Claims Manager Granite Park VII 5600 Granite Parkway Plano,
      Texas 75024 or P.O. Box 650043 Dallas, TX 75265-0043 The Fannie Mae address
      that must be completed on the Mortgage Record Change Form (HUD Form 92080) Onboarding
      Team newsellerservicer_inquiries@fanniemae.com To obtain reactivation requirements
      after a seller or servicer has been terminated Project Eligibility Review Service
      (PERS) Project Submission pers_projects@fanniemae.com To submit a complete PERS
      package via email, including all relevant supporting documentation. Published
      May 6, 2026 1077 Name Contact Information Purpose Privacy Oﬃce privacy_workinggroup@fanniemae.com
      or privacy_oﬃce@fanniemae.com To request permission to use Fannie Mae’s name
      or to provide written notice of a Cybersecurity Incident, data breach, or To
      provide notice of borrower enrollment in a state Address Conﬁdentiality Program
      Registration and Account Management Registration and Account Management on Fannie
      Mae’s website: https://singlefamily.fanniemae.com/applications-technology/technology-manager
      Technology_Registration@fanniemae.com To obtain the Software Subscription Agreement
      and other technology registration forms Servicing Solutions Center servicing_solutions@fanniemae.com
      800-2FANNIE(800-232-6643) Option 1, Option 3 For general servicer questions:
      case speciﬁc; servicing- related; loss mitigation; Home Aﬀordable Modiﬁcation-related
      questions Single-Family Certiﬁcation and Custody Team certiﬁcation_sf@fanniemae.com
      1-800-2FANNIE (800-232-6643) Option 1, Option 5 For assistance with document
      certiﬁcation and bailee letter information Single-Family Loan Delivery and Acquisitions
      Team acquisitions_loan_delivery@fanniemae.com 1-800-2FANNIE (800-232-6643) Option
      1, Option 4 For assistance with loan delivery related questions or for submission
      of Form 360 and Form 482 Published May 6, 2026 1078 Name Contact Information
      Purpose Single-Family Lender Approval https://singlefamily.fanniemae.com/become-fannie-mae-seller-or-servicer
      For application to become a Fannie Mae-approved seller or servicer and obtain
      an MSSC Trust Agreement and Prospectus Requests 800-2FANNIE (800-232-6643) Fannie
      Mae Attn: Fixed Income Investor Marketing 1100 15th Street, NW Mailstop 2H-3S/17
      Washington, DC 20005 To obtain the Trust Agreement, Prospectus, and related
      Prospectus Supplement U.S. Department of Education Federal Student Aid website
      https://studentaid.ed.gov/sa/types/loans/interest-rates To obtain current prevailing
      student loan interest rates E-1-03, List of Lender Contracts (08/05/2020) Introduction
      The following list summarizes the major contracts lenders must have in order
      to do business with Fannie Mae. It is intended to assist lenders in knowing
      the Fannie Mae contractual requirements that exist, but is not inclusive of
      all contracts that may be required. Lender Contracts Lender Contracts The following
      table summarizes the major contracts lenders must have in order to do business
      with Fannie Mae: Published May 6, 2026 1079 Contract Name Purpose How to Obtain
      it Mortgage Selling and Servicing Contract (MSSC) (and Addenda) For all lenders
      that sell loans to Fannie Mae or service loans on Fannie Mae’s behalf. The MSSC
      may include special approvals for lenders to deliver certain types of mortgage
      loans (for example, second mortgages, eMortgages, HomeStyle, and co-op share
      loans). How to Become a Fannie Mae Seller/Servicer Software Subscription Agreement
      (and applicable Schedules) Required for lenders to obtain access to any of Fannie
      Mae’s technology applications. Lenders must also sign one or more schedules
      to obtain access to speciﬁc applications. Technology Registration Forms Single-Family
      Servicing Applications Order Form/Schedule Completed the ﬁrst time the lender
      applies for a single- family servicing application and is incorporated into
      the lender’s Software Subscription Agreement. Technology Registration Forms
      Single-Family Shipping and Delivery Applications Order Form/Schedule Completed
      the ﬁrst time the lender applies for a single- family shipping and delivery
      application and is incorporated into the lender’s Software Subscription Agreement.
      Technology Registration Forms Published May 6, 2026 1080 Contract Name Purpose
      How to Obtain it Desktop Underwriter Order Form/Schedule Completed the ﬁrst
      time the lender applies for access to Desktop Underwriter and is incorporated
      into the lender’s Software Subscription Agreement. Fannie Mae customer account
      team Technology Manager Administration Registration Form (Lender) Used to designate
      the lender’s Corporate Administrator and User Administrator. technology_registration@fanniemae.com
      or the Customer Contact Center at 1-800-2FANNIE (1–800–232–6643) Early Funding
      Contracts • As Soon As Pooled Sale Agreement • As Soon As Pooled Plus Funding
      Agreements Outlines contractual terms for delivering whole loans or pools to
      Fannie Mae using Early Funding products. Capital Markets Pricing and Sales Desk
      (see E-1-02, List of Contacts) Chapter E-2, Exhibits Introduction This chapter
      contains the exhibits referenced within this Guide. E-2-01, Required Custodial
      Documents (05/04/2022) Introduction This exhibit contains information on the
      custodial documents required for all mortgages. Required Custodial Documents
      Required Custodial Documents Custodial documents are the legal documents pertaining
      to a mortgage that the document custodian takes into physical possession when
      Fannie Mae purchases or securitizes a mortgage. Published May 6, 2026 1081 The
      following mortgage documents (when applicable) are required for all mortgages.
      Requirement Description Cover letter A document that contains the following:
      • lender name and contact information; • lender loan number; • property address;
      and • a list of the documents that are being included in the submission package
      (documents listed below). Note The original note endorsed “in blank” and without
      recourse and there is no break in the chain of endorsements. For MERS registered
      loans, the MIN should be added to the upper right-hand corner of the note and
      must be part of the electronic data delivery. The MIN must be registered prior
      to delivery. Modiﬁcations Originals of any instruments that modify the terms
      and conditions of the mortgage note (such as a modiﬁcation agreement or an ARM
      addendum). Repair rider A Repair Rider or Addendum if a set-aside for repairs
      is required. Power of attorney A copy of the applicable power of attorney, if
      an attorney-in-fact signed the mortgage note (or any other acceptable alternative
      for the mortgage note) on a borrower’s behalf. If applicable law requires an
      original power of attorney for enforcement or foreclosure purposes, the document
      custodian must hold the original rather than a copy. If applicable law requires
      recordation of the power of attorney, it must be recorded. The name(s) on the
      power of attorney must match the name(s) on the note and must be dated such
      that it was valid at the time the note was executed. The power of attorney must
      be notarized. If a power of attorney is used because the lender determines such
      use is required by applicable law, the lender must include a written statement
      that explains the circumstances. Name aﬃdavit A name aﬃdavit, if the borrower
      signed under an “also known as (AKA) name” or used a signature that signiﬁcantly
      diﬀers from the typed name. Co-op documentation All applicable documentation
      required by Fannie Mae for a co-op share loan in the jurisdiction in which the
      co-op project is located. (Contact a Fannie Mae customer account team for speciﬁc
      documentary requirements.) Published May 6, 2026 1082 Requirement Description
      New York CEMA For a New York mortgage transaction that uses Form 3172, the executed
      and original Consolidated Note, the executed and recorded original of the CEMA
      and all exhibits to it (or a certiﬁed copy if the original is not yet available),
      and all required mortgage assignments. (Delivery of the original notes listed
      on the CEMA’s Exhibit A (the “Gap Note” and other prior notes) to the document
      custodian is not required, but the lender must maintain possession of all the
      Exhibit A original notes. For more information about use of the CEMA, refer
      to the instructions that are part of the form.) Indian guarantee certiﬁcate
      The Indian Loan Guarantee Certiﬁcate (HUD Form 53039), for a HUD Section 184
      mortgage. Participation loans certiﬁcate Two originals of the executed Participation
      Certiﬁcate (Form 638), for a delivery of a participation interest in a group
      of participation pool mortgages. Facsimile signatures Facsimile signature language,
      as applicable. If a mortgage (or deed of trust) note is endorsed by facsimile
      signature, a certiﬁed copy of the endorsing entity’s corporate resolution authorizing
      speciﬁc oﬃcers by name or title to use facsimile signatures is acceptable. For
      additional requirements for the use of facsimile signatures, see B8-3-04, Note
      Endorsement. Notes signed by trustee If the loan indicates that it is a part
      of a trust, it must be signed by the borrower as both the individual and trustee.
      The signatures can be on two separate lines or on one line, clearly indicating
      signature as trustee and individual. Renovation Loan Agreement For HomeStyle
      Renovation loans with recourse, the model Renovation Loan Agreement (Form 3731)
      or its equivalent are required. See B5-3.2-06, HomeStyle Renovation: Renovation
      Contract, Renovation Loan Agreement, and Lien Waiver. The document package must
      be sent via overnight mail, express delivery (ﬁrst delivery time), on the same
      day the lender submits the loan data to Loan Delivery. Clearly label As Soon
      As Pooled loan packages with “ASAP.” Do not staple one document to another and
      do not include any mortgages, deeds of trust, title insurance policies, or appraisals.
      Loan packages must be assembled in the following manner: Cover letter; Form
      1068, Form 1069, or Form 2005, if available; Published May 6, 2026 1083 All
      loans together in one continuous stack with each individual document stapled
      when more than one page is present; Loans must be in the exact order in which
      they were transmitted to Loan Delivery; Each loan''s documents should be placed
      in the following order: Loan modiﬁcation agreement (if applicable), Note, Allonge
      aﬃxed to the note (if note is not blank endorsed), and Other ancillary documents
      (power of attorney, CEMA documents, co-op documents, etc.) E-2-02, Suggested
      Format for Phase I Environmental Hazard Assessments (06/04/2025) Introduction
      This exhibit provides the suggested format for Phase I environmental hazard
      assessments. I. PROPERTY LOG II. SUMMARY OF PHASE I ASSESSMENT RESULTS/RECOMMENDATIONS
      III. INFORMATION CHECKLIST: INFORMATION SOURCES IV. INFORMATION CHECKLIST: EVALUATION
      OF SPECIFIC HAZARDS A. Waste Sites B. Polychlorinated Biphenyls (PCBs) C. Radon
      D. Underground Storage Tanks E. Asbestos F. Additional Hazards I. PROPERTY LOG
      Project Name: Property Address: Developer/Sponsor Name: Developer/Sponsor Address:
      Developer/Sponsor Telephone: Published May 6, 2026 1084 Lender Name: Lender’s
      Underwriter’s Name: Environmental Consultant: Consultant’s Firm Name: Consultant’s
      Firm Address: Consultant’s Telephone: Date Phase I Assessment Completed: Date
      Phase II Assessment Completed: II. SUMMARY OF PHASE I ASSESSMENT RESULTS/RECOMMENDATIONS
      1. Check applicable result for each hazard, indicating for each “Fail” whether
      (1) there is a possible remedy or (2) whether a Phase II assessment is needed.
      Hazard Pass Fail Possible Remedy Waste Sites PCBs Radon Underground Stora'
  judgment: false
