Announcement 2026-092 Fannie Mae Selling Guide SEL 2026-09
Fannie Mae Selling Guide SEL 2026-09
Newrez LLC "Newrez" Approved Correspondent Clients, Fannie Mae published SEL 2026-09 on October 7, 2026, announcing updates to the Verbal Verification of Employment, Income Policy Updates and Attorney Opinion Letters. These updates are effective immediately unless otherwise noted.
Key Highlights:
Verbal Verification of Employment:
Fannie Mae has removed the specific methods that lenders may use to satisfy the verbal verification of employment requirements. The existing timing requirements for the completion of a verbal VOE remain unchanged.
Section B3-3.1-04 Verbal Verification of Employment has been updated for employment related income.
This verification may be obtained verbally, in writing, or through an employment verification vendor. Newrez will not permit verification to be obtained by other means.
Effective with loan applications dated on and after December 2, 2026, a verbal verification is required when borrowers using Schedule K-1 income from a business in which they have less than 25% ownership to qualify. If the only income reported on the K-1 is rental income, a verbal VOE is not required. Additional details will be provided in the November guideline announcement.
Income Policy Updates:
Fannie Mae is clarifying the Income Assessment policies found in Chapter B3-2.
· Income Assessment – the income continuance requirement is updated to reflect that income with a defined expiration date is expected to continue for at least three years from the application date instead of the note date.
· Employment Offers and Contracts – updated to reflect the acceptance of the fully executed and non-contingent offer or contract may be demonstrated through a signed agreement, written confirmation, including email or by other verifiable means.
· Annuity, Pension and Retirement – updated to note that if the income is from an annuity or pension account and the borrower will begin receiving the income on or before the first payment due date, the income may be documented with a benefit statement from the provider and must specify the income type, amount and frequency of the payment, including confirmation of the initial start date of payments.
Attorney Opinion Letters Update – This remains a Newrez overlay and are not permitted.
New Overlay – Fannie Mae
Verbal Verification of Employment: DU – Verification obtained by other means is not permitted.