source:
  type: guide
  id: fnma-sel-b8-8-02
  authority: Fannie Mae Selling Guide B8-8-02 — Requirements for Creating, Closing,
    and Correcting eNotes
  description: Fannie Mae Selling Guide B8-8-02 — Requirements for Creating, Closing,
    and Correcting eNotes.
  coverage_tier: operative
obligations:
- id: fnma-sel-b8-8-02-full
  canonical_id: fnma-sel-b8-8-02-full
  section: Fannie Mae Selling Guide B8-8-02 — Requirements for Creating, Closing,
    and Correcting eNotes
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B8-8-02 — Requirements for Creating, Closing,
      and Correcting eNotes
    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: 'B8-8-02, Requirements for Creating, Closing, and Correcting
      eNotes (12/13/2023) Introduction This topic contains additional requirements
      that are applicable to eNotes, including: Uniform eNotes Record Retention Requirements
      Requirements for Registering eNotes Requirements for Correcting eNotes Uniform
      eNotes To be eligible for sale to Fannie Mae, eMortgages must be originated
      using the Uniform Fannie Mae/Freddie Mac form of eNote. This form of eNote is
      created by modifying the appropriate Fannie Mae/Freddie Mac uniform note in
      accordance with E-2-07, Description of eNote Header, Footer, and eNote Clause.
      Such modiﬁcation includes addition of a speciﬁc provision (Section 11, or Section
      12 in the case of ARM eNotes) that addresses the electronic nature of the note.
      This special provision also includes reference to the MERS eRegistry. Immediately
      upon execution by the borrower, all eNotes must be registered on the MERS eRegistry
      and contain a valid, Published May 6, 2026 922 unique 18-digit Mortgage Identiﬁcation
      Number (MIN). Fannie Mae requires creation of eNotes in the MISMO SMART Doc®
      format. For additional information, refer to Fannie Mae''s eMortgage Technical
      Requirements. Note: To ensure that the eNote is a discrete transferable record,
      closing instructions or other procedures must be created to ensure that the
      borrower signs only the eNote at closing and does not also sign a paper version
      of the Uniform note. Record Retention Requirements To preserve the lender''s
      ability to attribute the signer''s signature to their identity, certain documents
      and system records must be retained in a manner that will provide Fannie Mae
      with ready access to such documents and records if requested of the lender.
      For example, the lender must retain evidence of a borrower''s identity in the
      loan ﬁle. The lender must collect and retain systems logs and audit trails that
      establish a temporal and process link between the presentation of identity documents
      and the electronic signing of a document. Additionally, the lender must collect
      evidence of a borrower''s agreement to conduct the transaction electronically
      and their execution of a particular electronic signature. All ﬁles must be retained
      for the life of the loan plus seven years. Any ﬁles that a lender maintains
      must include the following: the name of the person (and related entity, if the
      borrower is not a natural person) who signed each document in the loan ﬁle,
      the date of the signature, the method by which the document was signed, and
      any relevant identifying (and other) information that can be used to verify
      the electronic signature and its attribution to the signer''s identity. Lenders
      must provide Fannie Mae with any audit trail ﬁles requested at any time in a
      format that is compatible with Fannie Mae systems. In the event of a servicing
      transfer, the lender is required to provide the new servicer with all attribution
      evidence and audit trails associated with the loans being transferred. Requirements
      for Registering eNotes The Fannie Mae/Freddie Mac Uniform eNote provides that
      the Note Holder (as deﬁned in the eNote) will be the entity listed in the MERS
      eRegistry as Controller. Lenders must have process controls in place to ensure
      eNotes are registered in the MERS eRegistry as soon as possible after the tamper-evident
      seal has been applied, but no later than one business day after signing. The
      record in the MERS eRegistry must reﬂect the originating lender - the lender
      whose name is on the eNote - as the ﬁrst Controller. The following applies to
      lenders using tradenames or assumed names on eNotes: the legal entity name must
      also be included on the eNote (for example, ABC Financial, Inc., dba XYZ Mortgage);
      and the initial MERS eRegistry registration must reﬂect the legal entity name
      as the initial Controller. Any and all subsequent transfers of the eNotes -
      changes of Control - must be reﬂected in the MERS eRegistry. Failure to comply
      with these requirements could render the loan ineligible for sale to Fannie
      Mae. Refer to the Published May 6, 2026 923 MERS eRegistry requirements for
      detailed documentation. Requirements for Correcting eNotes eNotes containing
      errors will typically require that a new note be executed. In this instance,
      once the new note has been executed (either in ink-signed paper or as an eNote)
      the original eNote should be de-activated on the MERS eRegistry via a Registration
      Reversal transaction. For additional questions, lenders should contact Fannie
      Mae''s eMortgage Group (see E-1-02, List of Contacts). If there are any issues
      identiﬁed with an eNote after it has been sold to Fannie Mae, the Servicer should
      contact Fannie Mae''s eMortgage Custodian Oversight Department (see E-1-02,
      List of Contacts) to discuss resolution options. eNote Errors Not Requiring
      a New eNote The lender may amend an eNote via an eNote correction agreement,
      including a name aﬃdavit where applicable, executed by both the lender and the
      borrower, for the clerical errors noted in Exhibit E-2-06, Correcting Errors
      in eNotes. The eNote correction agreement must include a statement regarding
      the clertical errors that are being corrected within the eNote, and may be executed
      either electronically or via ink-signed paper. Fannie Mae does not prescribe
      a form of eNote correction agreement or provide a template, as lenders must
      ensure compliance with applicable legal requirements in the relevant jurisdiction.
      The lender is responsible for ensuring that the eNote correction agreement is
      enforceable and made in compliance with applicable law. If the eNote correction
      agreement is electronic, the electronic signatures on the correction agreement
      must comply with the electronic signature requirements in B8-8-01, General Information
      on eMortgages. Regardless of whether the document is electronic or paper, the
      lender must: report a "modiﬁcation" to the MERS eRegistry with respect to the
      eNote, transmit a copy of the correction agreement to Fannie Mae''s eVault,
      and provide a copy of the correction agreement to the servicer to be maintained
      in the sevicing ﬁle. For instructions related to post-acquisition eNote corrections,
      contact Fannie Mae''s eMortgage Custodian Oversight Department (see E-1-02,
      List of Contacts). Recent Related Announcements The table below provides references
      to recently issued Announcements that are related to this topic. Announcements
      Issue Date Announcement SEL-2023-11 December 13, 2023 Published May 6, 2026
      924 Part C, Selling, Securitizing, and Delivering Loans Introduction This part
      describes the requirements associated with the two primary ways lenders transact
      business with Fannie Mae: selling whole loans for cash and pooling loans into
      Fannie Mae mortgage-backed securities (MBS), which includes Uniform Mortgage-Backed
      Securities (UMBS). C1, General Information on Execution Options and Loan Delivery
      This subpart includes policies and procedures that pertain to both execution
      options: selling whole loans and pooling whole loans into MBS, which includes
      UMBS. This subpart also provides general information on making commitments,
      delivering loans, and servicing and borrower payment remittance options. C2,
      Whole Loan Transactions This subpart includes Fannie Mae’s policies, parameters,
      and other information regarding the sale and delivery of whole loans for cash.
      Whole loan products, commitment types and process, servicing fees, remittance
      types, loan payments and purchase adjustments are covered in the ﬁrst chapter;
      requirements for good delivery, extensions and pair-oﬀs, required data and documentation,
      funding and post-purchase adjustments in the second chapter. C3, Mortgage-Backed
      Securities (MBS) This subpart describes Fannie Mae''s requirements for pooling
      mortgages that will serve as the underlying asset for MBS, which includes UMBS.
      This subpart also provides Fannie Mae''s MBS program parameters and other information
      regarding MBS commitments, guaranty and buyup and buydown fees, pooling loans
      into ﬁxed-rate and ARM MBS and Fannie Majors, and delivering and trading MBS.
      Published May 6, 2026 925 Subpart C1, General Information on Execution Options
      and Loan Delivery Introduction This subpart includes policies and procedures
      that pertain to both execution options: selling whole loans and pooling whole
      loans into MBS, which includes UMBS. This subpart also provides general information
      on making commitments, delivering loans, and servicing and borrower payment
      remittance options. Chapter C1-1, Execution Options Overview Introduction This
      chapter provides general information on selling whole loans and pooling loans
      into MBS, which includes UMBS.'
  judgment: false
