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CATIC Agent Bulletin
UPDATES TO FANNIE MAE MULTIFAMILY SELLING AND SERVICING GUIDE Include Requirement for Approved Title Insurance Underwriter; CATIC is an Approved Title Insurance Underwriter
Fannie Mae has released two important updates to its Multifamily Selling and Servicing Guide: Guide Update 25-10 in May, and Notification 25-13 in July. These updates outline changes to its Title and Closing Requirements for Multifamily Mortgage Loans (Form 4650), and are intended to strengthen funding controls, mitigate the risk of fraud and clarify the responsibilities of underwriters and title agents.
Key Updates effective May 8, 2025 (Guide Update 25-10):
· Funding – All funding functions must now be performed by an “Approved Title Insurance Underwriter”, except where limited by law. In such cases, the Title insurance Underwriter must review and approve the funding functions. Title agents may continue to perform escrow functions. CATIC is an approved Title Insurance Underwriter (see below for further details).
· Title Commitment- a three-year chain of title is now required to be included in the title commitment.
· Due Diligence – enhanced due diligence is required for both the purchase and sales contract and borrower organizational documents.
· Title Policy – updates apply to Schedule B, Part I and include updated guidance on general endorsements.
· Lender Commitment/Instructions - commitment letters and closing instructions have been revised to reflect these new requirements.
Key Updates effective July 30, 2025 (Notification 25-13)
· Form 4650 - clarifies the definition of “Escrow Functions” and Borrower requirements to obtain seller consent for additional due diligence.
· Form 4650A – Schedule of Approved Title Insurance Underwriters, was updated to included additional approved title insurance underwriters, including CATIC and CATIC Title.
Please reach out to your local CATIC underwriter with any questions or if you need any assistance in navigating these new requirements.
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