Fannie Mae Updates Title and Closing Requirements for Multifamily Mortgages
May 13, 2025
Fannie Mae issued an update to its Multifamily Selling and Servicing Guide that modified title and closing requirements for multifamily mortgages. The changes went into effect on loan applications received on or after May 8. The major change impacting title agents is that Fannie Mae now requires title insurance underwriters to perform all funding functions—except where limited by law. ALTA has met with Fannie Mae and Freddie Mac since last year about these funding changes. ALTA will continue to engage with the agencies to share concerns members have with the new requirements. Read on.
Contact ALTA at 202-296-3671 or [email protected].