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Dear Correspondent Lender Partner,
This notice serves as an important reminder regarding the delivery of loans to ServiSolutions.
Any agency‑specific terms of business waivers, variances, or exceptions that your organization may have directly with Fannie Mae or Freddie Mac do not apply to loans delivered to ServiSolutions. While such exceptions may be permitted under your own contractual agreements with the agencies, Fannie Mae and Freddie Mac do not extend those same terms to ServiSolutions under our seller/servicer agreements.
As a result, ServiSolutions is not permitted by the agencies to deliver or securitize loans originated using those waivers or exceptions. Examples include, but are not limited to:
- Rental payment history credit or documentation exceptions
- Lender‑funded down payment assistance programs
- Other agency‑approved variances or concessions granted outside of standard Selling Guide requirements
- Loans delivered to ServiSolutions must meet standard agency requirements as applicable to ServiSolutions’ contractual arrangements with Fannie Mae and Freddie Mac, regardless of any separate approvals or exceptions granted to the correspondent lender.
Delivery of a loan utilizing an agency waiver or exception that is not permitted under ServiSolutions’ agency agreements may result in a purchase denial and/or an investor repurchase demand.
Please ensure this information is communicated internally to all applicable teams, including credit policy, underwriting, and quality control staff, to avoid delivery and post‑purchase issues.
If you have questions regarding whether a specific loan feature or exception is eligible for delivery to ServiSolutions, please email lenderinquries@sevsol.com prior to loan delivery.
Thank you for your continued partnership.
Sincerely,
ServiSolutions Correspondent Lending
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