On July 7, 2021, Fannie Mae released its Selling Guide Announcement SEL-2021-06 and Freddie Mac released its Selling Bulletin 2021-25, both of which included an announcement about Fannie Mae and Freddie Mac’s collaboration to update their uniform instruments. The updated uniform instruments include the Fannie Mae/Freddie Mac and Fannie Mae-specific security instruments, notes, riders and addenda, and special-purpose documents. Upon a comprehensive joint review of the uniform instruments, Fannie Mae and Freddie Mac have made improvements to enhance clarity and usability. The new instruments have a “07/2021” footer date.

Fannie Mae’s announcement states that the benefits of the updated uniform instrument are as follows:

  • They are easier to use (have more headings/sub-headings, have shorter paragraphs and sentences, provide more clearly defined lists)
  • They provide more clarity (use plainer language, provide clarification of the explanation of borrower and lender obligations)
  • They reflect industry changes (account for changes that the industry has experienced over time, better reflect current industry practices and systems)

Lenders may begin using the updated uniform instruments immediately, but will be required to use them for loans with note dates on or after January 1, 2023. Note that the updated uniform instruments cannot be used in combination with any earlier versions (e.g., a security instrument with a “07/2021” footer date must be used with a note that also has a “07/2021” footer date).

Fannie Mae’s Selling Guide Announcement (SEL-2021-06)
Freddie Mac’s Selling Bulletin (2021-25)
Fannie Mae’s Uniform Instruments Update Fact Sheet
Fannie Mae’s updated uniform instruments
Fannie Mae’s prior version of uniform instruments
Freddie Mac’s updated uniform instruments (Exhibit 4A)
Freddie Mac’s authorized changes uniform instruments (Exhibit 5A)