Are all borrowers required to be on title to the property, if there are multiple borrowers on the loan transaction? (2024)

I'm an expert in the field with a deep understanding of mortgage origination and underwriting processes, pricing and execution strategies, as well as servicing and delivering loans. My expertise extends to Fannie Mae's policies and guidelines, providing valuable insights into the intricacies of the mortgage industry.

In the provided article from Fannie Mae's Selling Guide, the focus is on the origination through closing process, specifically within Subpart B2: Eligibility, and Chapter B2-1: Mortgage Eligibility. The highlighted information emphasizes the occupancy requirements when there are multiple borrowers involved in a transaction.

Here are the key concepts mentioned in the article:

1. Occupancy Requirements:

   • When there are multiple borrowers on a transaction, only one borrower needs to occupy and take title to the property.
   • Exceptions may apply for mortgages that have guarantors or co-signers.
   • Additional information on occupancy types can be found in B2-1.1-01, Occupancy Types.

2. Guarantors, Co-Signers, and Non-Occupant Borrowers:

   • B2-2-04 provides more detailed information on the role of guarantors, co-signers, or non-occupant borrowers in the subject transaction.

3. Ask Poli - AI-Powered Search Tool:

   • Fannie Mae offers an AI-powered search tool called Ask Poli for sellers to get answers to Selling Guide and policy questions.
   • Users can access exclusive Q&As and official Selling & Servicing Guide content through Ask Poli.

4. Additional Resources:

   • Fannie Mae encourages customers to visit Ask Poli for information from other Fannie Mae published sources.
   • Guide Resources provide access to forms, announcements, lender letters, and other essential documents to stay current on selling policies.

5. Customer Support and Resources:

   • Fannie Mae provides customer support, news, events, and a learning center to assist customers in navigating mortgage products and options.
   • The article also mentions various technology apps and solutions offered by Fannie Mae.

6. Technical Support:

   • Users experiencing issues with page display are advised to use Firefox or Chrome browsers and perform a hard refresh in Internet Explorer.
   • Technical support questions can be directed to Ask_Poli@fanniemae.com.

This summary captures the key information related to mortgage eligibility, occupancy requirements, and available resources for Fannie Mae customers in the specified article. Feel free to ask if you have any specific questions or need further clarification on any aspect of the mortgage process.