source:
  type: regulation
  id: fnma-sel-b8-7-01
  authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc.
    (05/01/2024)
  description: "Fannie Mae Single Family Selling Guide topic B8-7-01 (Mortgage Electronic Registration Systems (MERS),\
    \ Inc.). Gap-fill (verbatim, ID-diff). \n"
obligations:
- id: fnma-sel-b8-7-01-0
  canonical_id: fnma-sel-b8-7-01-0
  section: Fannie Mae Single Family Selling Guide B8-7-01
  description: 'B8-7-01 Mortgage Electronic Registration Systems (MERS), Inc.: (05/01/2024) Introduction The MERS
    system is an electronic system that assists in the tracking of loans, servicing rights, and security interests.
    To initiate the electronic tracking, the seller/servicer assigns a special MERS Mortgage Identiﬁcation Number
    (MIN) to the loan and r…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fnma-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS),
      Inc. (05/01/2024)
    source_class: gse-guide
    source_url: https://selling-guide.fanniemae.com/
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: '(05/01/2024) Introduction The MERS system is an electronic system that assists in the tracking
      of loans, servicing rights, and security interests. To initiate the electronic tracking, the seller/servicer
      assigns a special MERS Mortgage Identiﬁcation Number (MIN) to the loan and registers it in MERS. This topic
      contains information about MERS, including: Naming MERS as the Nominee for the Beneﬁciary in the Security
      Instrument Requirements for the Use of MERS in Speciﬁed Geographic Areas MERS Registration Use of the MIN
      Mortgage Assignment to MERS Termination of MERS Naming MERS as the Nominee for the Beneﬁciary in the Security
      Instrument A seller/servicer that wants to register a newly originated loan with MERS may prefer to designate
      MERS as the nominee for the beneﬁciary in the security instrument. Doing so, eliminates the need for a subsequent
      assignment of the security instrument should the seller/servicer sell (or transfer servicing of) the loan
      to another seller/servicer that is a member of MERS. In such cases, the applicable security instrument must
      be modiﬁed to:'
    drafter_attestation: Verbatim from Fannie Mae Single Family Selling Guide B8-7-01 body (max-gap occurrence),
      snapshot 5f7b8b79da595d76; substring-verified.
  judgment: false
- id: fnma-sel-b8-7-01-1
  canonical_id: fnma-sel-b8-7-01-1
  section: Fannie Mae Single Family Selling Guide B8-7-01
  description: 'B8-7-01 Mortgage Electronic Registration Systems (MERS), Inc.: , 2026 915 show MERS as the nominee
    for the seller/servicer, deﬁne and name the originating seller/servicer, and obtain the borrower’s acknowledgment
    of MERS’ role in the mortgage transaction. If the seller/servicer encounters a situation where Fannie Mae is
    the owner of record f…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fnma-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS),
      Inc. (05/01/2024)
    source_class: gse-guide
    source_url: https://selling-guide.fanniemae.com/
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: ', 2026 915 show MERS as the nominee for the seller/servicer, deﬁne and name the originating
      seller/servicer, and obtain the borrower’s acknowledgment of MERS’ role in the mortgage transaction. If the
      seller/servicer encounters a situation where Fannie Mae is the owner of record for a loan because the original
      assignment of the loan to Fannie Mae was recorded in the public records, the seller/servicer must correct
      the error before it completes the MERS registration by: preparing an assignment of the loan from Fannie Mae
      to MERS, sending the assignment to Fannie Mae for execution, and recording the assignment in the public records.
      Changes that must be made to create a standard MERS security instrument for each jurisdiction may be found
      in the Instructions document for each state-speciﬁc security instrument (see Fannie Mae''s Legal Documents
      website), with the exception of loans secured by property located in certain geographic areas, as described
      below. The seller/servicer is responsible for the accurate and timely preparation and recordation of the security
      instrument and any MERS-related documents required to be used in speciﬁc geographic areas. Sellers/servicers
      must also take all reasonable steps to ensure that information pertaining to MERS is updated and accurate
      at all times. Even when MERS is named as the nominee for the beneﬁciary in the security instrument, it has
      no beneﬁcial interest in the mortgage. All actions that MERS takes with respect to a loan are based on the
      instructions initiated by the originating seller, Fannie Mae, or the servicer. The originating seller remains
      responsible for all of its Contractual Obligations and any liability that it or Fannie Mae incurs as a result
      of the MERS registration, any MERS transaction, or the failure of MERS to perform any obligation with respect
      to a MERS-registered loan. In addition, the seller/servicer is solely responsible for any failure to comply
      with the provisions of its MERS Member Agreement, Rules, and Procedures. Requirements for the Use of MERS
      in Speciﬁed Geographic Areas MERS Rider In the states listed below, sellers/servicers must use the Mortgage
      Electronic Registration Systems, Inc. Rider (MERS Rider) (Form 3158) when a newly originated loan will be
      registered with MERS. Sellers/servicers must also follow the Instructions to the MERS Rider and the applicable
      security instruments to make changes to the standard security instruments for the following states: Montana,
      Oregon, and Washington. As the MERS Rider must be used in these speciﬁed states, post-closing assignments
      to MERS are prohibited. MERS Assignment Form - Maine'
    drafter_attestation: Verbatim from Fannie Mae Single Family Selling Guide B8-7-01 body (max-gap occurrence),
      snapshot 5f7b8b79da595d76; substring-verified.
  judgment: false
- id: fnma-sel-b8-7-01-2
  canonical_id: fnma-sel-b8-7-01-2
  section: Fannie Mae Single Family Selling Guide B8-7-01
  description: 'B8-7-01 Mortgage Electronic Registration Systems (MERS), Inc.: , 2026 916 In the state of Maine,
    sellers/servicers must use the MERS Mortgage Assignment (Form 3749) to assign loans to MERS at origination or
    post-closing, as applicable. Loans in which the Maine security instrument has been modiﬁed to name MERS as the
    original mortgagee of rec…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fnma-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS),
      Inc. (05/01/2024)
    source_class: gse-guide
    source_url: https://selling-guide.fanniemae.com/
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: ', 2026 916 In the state of Maine, sellers/servicers must use the MERS Mortgage Assignment
      (Form 3749) to assign loans to MERS at origination or post-closing, as applicable. Loans in which the Maine
      security instrument has been modiﬁed to name MERS as the original mortgagee of record, solely as nominee for
      the seller/servicer, are ineligible for delivery to Fannie Mae. MERS Registration If a seller/servicer registers
      a loan on the MERS system before delivering it to Fannie Mae, the seller/servicer must ensure that the MIN
      is registered in MERS and names itself as the investor. Additionally, the seller/servicer must include the
      MIN in the delivery data. After Fannie Mae purchases or securitizes the mortgage, Fannie Mae notiﬁes MERS
      to update its records to reﬂect Fannie Mae’s ownership interest in the loan. Note: For loans registered in
      MERS iRegistration where MERS is not named as the nominee for the beneﬁciary in the security instrument, the
      MERS MIN should not be reported on the loan schedules, unless the loan is an eMortgage registered on MERS
      eRegistry. If a seller/servicer registers a mortgage with MERS after Fannie Mae has purchased or securitized
      the loan, the seller/servicer must name Fannie Mae as the investor during registration and notify MERS of
      Fannie Mae’s ownership interest in the loan. Use of the MIN For each MERS-registered loan delivered to a document
      custodian, the seller/servicer must indicate the MIN on the security instrument and related documents. Because
      the status of a MERS-registered mortgage can change, the seller/servicer is not required to include the MIN
      on the note. Additionally, the seller/servicer is still responsible for making sure that the document custodian
      has suﬃcient information to determine whether a loan that is included in a subsequent transfer of servicing
      is registered with MERS at the time of the transfer. The seller/servicer must have adequate controls in its
      processes to enable it to readily identify MERS-registered mortgages. The seller/servicer can choose from
      the following options: place the MIN on the note when the loan is registered with MERS and, if the MERS registration
      is subsequently terminated for any reason, notify the document custodian to delete the MIN from the note;
      wait to advise the custodian of the status of the MERS registration for a loan until a change in status actually
      occurs; or notify the custodian about the status of the MERS registration for a loan at the time of a servicing
      transfer by providing the custodian with a listing of all MERS-registered loans that are included in the transfer
      and a certiﬁcation that any and all other loans included in the transfer are not currently registered with
      MERS. (The listing may be prepared by the seller/servicer or, with the seller/servicer’s authorization, by
      MERS.) If there are more MERS-registered loans included in the transfer than there are unregistered loans,
      the listing may instead identify the unregistered loans—and, in that case, the certiﬁcation should state that
      any and all other loans included in the transfer are currently registered with MERS. Mortgage Assignment to
      MERS'
    drafter_attestation: Verbatim from Fannie Mae Single Family Selling Guide B8-7-01 body (max-gap occurrence),
      snapshot 5f7b8b79da595d76; substring-verified.
  judgment: false
- id: fnma-sel-b8-7-01-3
  canonical_id: fnma-sel-b8-7-01-3
  section: Fannie Mae Single Family Selling Guide B8-7-01
  description: 'B8-7-01 Mortgage Electronic Registration Systems (MERS), Inc.: , 2026 917 If the originating seller/servicer
    is the beneﬁciary for a loan that it registers with MERS, they must prepare an assignment of the mortgage to
    MERS. Refer to the section above, entitled Requirements for the Use of MERS in Speciﬁed Geographic Areas, for
    additional info…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fnma-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS),
      Inc. (05/01/2024)
    source_class: gse-guide
    source_url: https://selling-guide.fanniemae.com/
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: ', 2026 917 If the originating seller/servicer is the beneﬁciary for a loan that it registers
      with MERS, they must prepare an assignment of the mortgage to MERS. Refer to the section above, entitled Requirements
      for the Use of MERS in Speciﬁed Geographic Areas, for additional information about, and restrictions on, assignments
      of loans to MERS. By delivering a MERS-registered loan to Fannie Mae, the seller/servicer: warrants that MERS
      is the mortgagee of record (either by being named as an assignee in a recorded assignment of the security
      instrument or as nominee for the beneﬁciary in the security instrument); and warrants that the MIN is valid
      and properly registered in MERS naming the seller/servicer as the investor. Sellers/servicers are not required
      to include a copy of the assignment of the loan to MERS in the delivery package they submit to the applicable
      document custodian. Termination of MERS If the seller/servicer decides to discontinue the use of MERS, they
      must request from MERS that the loan be “deactivated” in MERS. MERS will notify Fannie Mae about the deactivation
      of any loan in which it has an interest. If the seller/servicer’s membership in MERS is terminated, the seller/servicer
      must promptly notify Fannie Mae’s MERS Program Oﬃce (see E-1-02, List of Contacts). In the event that either
      its membership in MERS or the MERS registration for an active loan is terminated for any reason while Fannie
      Mae has an ownership interest in the loan, the seller/servicer must perform the functions outlined in the
      following table for each MERS-registered loan that it is servicing for Fannie Mae. ✓ The seller/servicer must...
      Prepare an assignment of the loan from MERS to itself. Have the assignment executed. Record the executed assignment
      in the public land records. Provide the impacted Fannie Mae loan numbers to Fannie Mae’s MERS Program Oﬃce.
      Recent Related Announcements The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2024-03 May 01, 2024'
    drafter_attestation: Verbatim from Fannie Mae Single Family Selling Guide B8-7-01 body (max-gap occurrence),
      snapshot 5f7b8b79da595d76; substring-verified.
  judgment: false
- id: fnma-sel-b8-7-01-4
  canonical_id: fnma-sel-b8-7-01-4
  section: Fannie Mae Single Family Selling Guide B8-7-01
  description: 'B8-7-01 Mortgage Electronic Registration Systems (MERS), Inc.: , 2026 918 Announcements Issue Date
    Announcement SEL-2023-11 December 13, 2023 Announcement SEL-2022-04 May 04, 2022 Announcement SEL-2019-02 March
    06, 2019 Chapter B8-8, Sale of eMortgages to Fannie Mae Introduction This chapter provides information related
    to selling eMortgages…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fnma-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Fannie Mae Single Family Selling Guide B8-7-01, Mortgage Electronic Registration Systems (MERS),
      Inc. (05/01/2024)
    source_class: gse-guide
    source_url: https://selling-guide.fanniemae.com/
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: ', 2026 918 Announcements Issue Date Announcement SEL-2023-11 December 13, 2023 Announcement
      SEL-2022-04 May 04, 2022 Announcement SEL-2019-02 March 06, 2019 Chapter B8-8, Sale of eMortgages to Fannie
      Mae Introduction This chapter provides information related to selling eMortgages to Fannie Mae.'
    drafter_attestation: Verbatim from Fannie Mae Single Family Selling Guide B8-7-01 body (max-gap occurrence),
      snapshot 5f7b8b79da595d76; substring-verified.
  judgment: false
