On September 2, 2020, Fannie Mae published SEL-2020-05 to announce the following revisions to its Selling Guide:

  • A manufactured home is now eligible as an accessory dwelling unit. The comparable sales requirements for the appraisal have been updated.
  • Removed the refinanced or modified balloon loan policies, and removed all references to refinanced or modified balloon loans.
  • Made clarifications based on Ask Poli® insights, and updated the Selling Guide based on common questions pertaining to non-occupant borrowers.

Link to SEL-2020-05