Fannie Mae Multifamily Mortgage Loan Program Updates

This document is a technical report detailing recent updates to Fannie Mae's Multifamily Selling and Servicing Guide, specifically regarding title, closing, and settlement requirements for multifamily mortgage loans effective from May 8, 2025. The report outlines the modifications aimed at safeguarding against fraud and other risks, emphasizing the role of approved Title Insurance Underwriters in performing funding functions. It specifies the requirements for acceptable title insurers, due diligence for borrowers' organizational documents, and property title conditions. Additionally, the report discusses a case study of seller impersonation fraud in Vermont, highlighting the importance of vigilance and proactive fraud prevention measures in real estate transactions. The document also addresses upcoming changes in Connecticut recording fees and announces a webinar on new FinCEN rules related to money laundering in residential real estate transactions. Overall, it serves as a comprehensive update for title agents in New England regarding regulatory changes and fraud prevention strategies.