source:
  type: guide
  id: fnma-sel-a2-2-02
  authority: Fannie Mae Selling Guide A2-2-02 — Delivery Information and Delivery-Option
    Specific Representations and Warranties
  description: Fannie Mae Selling Guide A2-2-02 — Delivery Information and Delivery-Option
    Specific Representations and Warranties.
  coverage_tier: operative
obligations:
- id: fnma-sel-a2-2-02-full
  canonical_id: fnma-sel-a2-2-02-full
  section: Fannie Mae Selling Guide A2-2-02 — Delivery Information and Delivery-Option
    Specific Representations and Warranties
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide A2-2-02 — Delivery Information and Delivery-Option
      Specific Representations and Warranties
    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: 'A2-2-02, Delivery Information and Delivery-Option Speciﬁc Representations
      and Warranties (08/30/2016) Introduction This topic covers delivery information
      and delivery-option speciﬁc representations and warranties, including: Mortgage
      Loan Delivery MBS Pool Delivery Representations and Warranties Representation
      and Warranty Requirements for the Sale and Servicing of All Mortgages Mortgage
      Loan Delivery Regardless of the delivery option, the lender represents and warrants
      that all required mortgage loan delivery data is true, correct, and complete,
      even for such data elements that are not required to qualify a borrower or underwrite
      a loan. The lender also represents and warrants that at the time Fannie Mae
      releases cash or MBS in exchange for the mortgage loan, no person has any right
      of rescission pursuant to the Truth in Lending Act or other law which has not
      expired or otherwise terminated. For purchase money loans and also for loans
      that have a right of rescission that has been waived, a lender may not request
      or receive cash or MBS until at least one business day after the lender disburses
      the funds to (or on behalf of) the borrower. MBS Pool Delivery Representations
      and Warranties The lender makes the following additional representations and
      warranties when it sells Fannie Mae a mortgage loan that is included as part
      of an MBS pool delivery: the mortgage loan, or participation interest, conforms
      to the requirements and speciﬁcations for mortgage loans that are pooled to
      back MBS issues and the pool formation criteria of the speciﬁc MBS pool in which
      the mortgage loan is included (see C3-3, MBS Guaranty Fees and Guaranty Fee
      Buyups and Buydowns), the mortgage satisﬁes the general mortgage loan eligibility
      requirements and underwriting guidelines for mortgage loans delivered to Fannie
      Mae (see C3-3, MBS Guaranty Fees and Guaranty Fee Buyups and Buydowns), the
      description of the mortgage loan, or participation interest, described in the
      applicable Schedule of Mortgages is true and correct, and all owners named in
      the Delivery Schedule (Form 2014) were provided the most recent prospectus,
      and any applicable prospectus supplement, available for the MBS program at the
      time they entered into their contract for the purchase of the related securities.
      When the lender sells Fannie Mae an MBS pool that includes mortgage loans with
      special product characteristics that make them subject to delivery limitations,
      the lender represents and warrants that no more than 10% of Published May 6,
      2026 17 the aggregate issue date principal balance of the pool is composed of
      mortgage loans that have one of the special product characteristics. If mortgage
      loans with more than one of the special characteristics are included in the
      same pool, the lender warrants that the total amount of mortgage loans with
      special product characteristics in the pool does not exceed 15% of the aggregate
      issue date principal balance of the pool. If a mortgage loan in an MBS pool
      has achieved enforcement relief as provided in A2-3.2-02, Enforcement Relief
      for Breaches of Certain Representations and Warranties Related to Underwriting
      and Eligibility, then the obligation to indemnify Fannie Mae is limited in certain
      respects. See A2-1-03, Indemniﬁcation for Losses, for a description of the continuing
      indemniﬁcation obligations. Representation and Warranty Requirements for the
      Sale and Servicing of All Mortgages By submitting any loan to Fannie Mae under
      any execution, including MBS, whole mortgage loan, or a participation pool mortgage
      to Fannie Mae as a whole loan, the lender represents and warrants that all right,
      title, and interest in the mortgage loan is sold, transferred, set over, and
      otherwise conveyed by the lender to Fannie Mae as of the date Fannie Mae funds
      the purchase proceeds; there is no agreement with any other party providing
      for servicing the mortgages that continues after such date unless there is full
      compliance with all the Fannie Mae Guide requirements for subservicing (see
      A3-3-03, Other Servicing Arrangements, and the Servicing Guide) or any prior
      servicing agreement is made expressly subject to Fannie Mae’s rights as owner
      of the mortgage loans; and it is aware of all matters related to the mortgage
      that were known to the originating lender. The party that was servicing for
      the lender prior to the transfer of the loan to Fannie Mae may become a servicer
      for Fannie Mae, if there is full compliance with all the Fannie Mae Guide requirements
      that provide for either the assignment of servicing from the lender concurrent
      with conveyance of the mortgage to Fannie Mae (see A3-3-02, Concurrent Servicing
      Transfers), or post-delivery transfers of servicing (see the applicable section
      of the Servicing Guide). When Fannie Mae consents to a transfer of servicing
      by a lender or servicer, it relies on the integration and non- divisibility
      of the Lender Contract. Fannie Mae requires that the transferor lender remain
      obligated for all selling and servicing representations and warranties and recourse
      obligations upon the transfer of servicing. Fannie Mae also requires that the
      transferee servicer, whether the original seller or a transferee servicer, undertake
      and assume joint and several liability for all selling and servicing representations
      and warranties and recourse obligations related to the mortgage loans it services
      unless explicitly agreed to the contrary in writing by Fannie Mae. Recent Related
      Announcements There are no recently issued Announcements related to this topic.
      Published May 6, 2026 18'
  judgment: false
