source:
  type: guide
  id: fnma-sel-a3-5-02
  authority: Fannie Mae Selling Guide A3-5-02 — Fidelity Bond Policy Requirements
  description: Fannie Mae Selling Guide A3-5-02 — Fidelity Bond Policy Requirements.
  coverage_tier: operative
obligations:
- id: fnma-sel-a3-5-02-full
  canonical_id: fnma-sel-a3-5-02-full
  section: Fannie Mae Selling Guide A3-5-02 — Fidelity Bond Policy Requirements
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide A3-5-02 — Fidelity Bond Policy Requirements
    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: 'A3-5-02, Fidelity Bond Policy Requirements (07/25/2017) Introduction
      This topic contains information on ﬁdelity bond policy requirements, including:
      Fidelity Bond Coverage Requirements Fidelity Bond Coverage and Deductible Amounts
      Fidelity Bond Coverage Requirements The ﬁdelity bond must insure against losses
      resulting from dishonest or fraudulent acts committed by: the seller/servicer’s
      principal owner, the seller/servicer’s personnel, any employees of outside ﬁrms
      that provide legal services to the seller/servicer or data processing services
      for the seller/servicer or other accounting records for the seller/servicer,
      and persons assigned to the seller/servicer through an intervening employer
      or agency to perform the usual duties of an employee of the seller/servicer
      on a contingent or temporary basis and interns. For corporate seller/servicers,
      Fannie Mae will accept coverage under the following types of ﬁdelity bonds:
      Mortgage Bankers Blanket Bond Policy, Savings and Loan Blanket Bond Policy,
      or Bankers Blanket Bond Policy. Fidelity Bond Coverage and Deductible Amounts
      As described in the table below, the ﬁdelity bond coverage must be equal to
      a percentage of, the greater of the seller/servicer’s annual total UPB of single-family
      and multifamily annual mortgage loan originations; or highest monthly total
      UPB of single-family and multifamily servicing of mortgage loans that the seller/servicer
      owns, including mortgage loans owned by the seller/servicer and serviced by
      others. Note: If the seller/servicer uses a subservicing arrangement, the master
      servicer must maintain ﬁdelity bond coverage at all times for the servicing
      of mortgage loans that it owns but that the subservicer services for that master
      servicer. A subservicer must only maintain coverage for mortgage loans that
      it owns. (See Servicing Guide A2-1-07, Subservicing for additional information
      about subservicing arrangements). The ﬁdelity bond coverage amount and maximum
      deductible limit is determined in accordance with the Published May 6, 2026
      130 requirements in the following table. The maximum amount of ﬁdelity bond
      coverage required is $150 million. Total UPB Coverage Required Maximum Deductible
      Clause Based on Face Value of Policy $100 million or less $300,000 higher of
      10% or $100,000 Over $100 million up to $1 billion + 0.150% of the next $400
      million + 0.125% of the next $500 million Over $1 billion + 0.100% of any amount
      over $1 billion 15% Note: A deductible above 15% will be considered based on
      adequate seller/servicer ﬁnancial strength. (See A4-1-01, Maintaining Seller/Servicer
      Eligibility. The seller/servicer must obtain Fannie Mae’s prior written consent.
      The deductible cannot exceed 1% of the seller/servicer’s total net worth. Recent
      Related Announcements There are no recently issued Announcements related to
      this topic.'
  judgment: false
