Loan Purchase Letter from Fannie Mae
Fannie Mae buys mortgage loans from lenders to replenish their funds so the lenders can continue making new mortgage loans. That helps keep affordable financing available for homebuyers in the market for a home.
If you received a letter from us notifying you that we purchased your loan, you don't need to worry or take any action. It's for your information only, and should be kept with your mortgage records in case you ever need to reference it.
The letter identifies your mortgage servicer—the company responsible for collecting your monthly payments on our behalf and providing customer service. It also lists resources we offer to inform and assist you, especially if you ever have a financial hardship or need help recovering from a natural disaster.
To help ensure you understand the information included in the loan purchase letter and related topics, we’ve answered frequently asked questions about it below.
Frequently Asked Questions
When we purchase most mortgage loans from a lender, we're legally required to notify the borrower of the purchase and must include information about the mortgage servicer and other details.
No, the letter is for informational purposes. No action is required. However, we recommend keeping the letter with your mortgage records for future reference.
No, the transfer of ownership does not affect your monthly payment or any term or condition of your mortgage, deed of trust, or note.
There are circumstances when the owner of your mortgage loan (sometimes called the "investor") qualifies you for certain programs or assistance—especially if you face financial difficulties. For example, homeowners with a Fannie Mae-owned loan can get free personalized assistance from our Mortgage Help Network and Disaster Response Network, and may be eligible for certain mortgage relief options.
Should I be concerned or take any action because Fannie Mae didn’t publicly record the purchase of my loan?
No. As the purchaser of your loan, Fannie Mae is not required to record the transfer of ownership. Your mortgage lender is responsible for recording your mortgage in accordance with applicable law.
The company that "services" your loan is known as your mortgage servicer. A servicer typically sends your monthly statements, processes your payments, and provides customer support. They may also manage your escrow accounts and pay taxes and insurance on your behalf. The lender or mortgage company who originated your mortgage loan may or may not service your loan.
No–except to send your payments or if you have questions about your loan.
No, Fannie Mae owns your loan, but we do not service mortgage loans. You can find your mortgage servicer listed on the loan purchase letter you received from Fannie Mae, or on the welcome letter/packet you should have received from your mortgage servicer. If you need customer service related to your mortgage loan, reach out to your mortgage servicer directly.
No, do NOT send mortgage payments to Fannie Mae. Any payments sent to Fannie Mae will be returned to you and could result in late charges or your account becoming past due. Fannie Mae is not responsible for any misdirected payments or late charges.
Send all payments directly to your mortgage servicer, using the payment coupon or statement provided at your loan closing or in the welcome letter/packet they should send to you.
The information on the letter is the best information available to Fannie Mae at the time we purchased your loan. Just as the ownership of your loan can change, so can the ownership of the servicing of your loan. You should use the information sent to you by the servicer as your most up-to-date information.
I sent my payment to the servicer listed on the loan purchase letter, but now my loan has been transferred to a different servicer. What will happen to my payment?
Your payment along with your loan information may be transferred to your new servicer by your present servicer or returned to you. You should receive a welcome letter or packet from your new servicer with payment information.
The information on the letter is the best information available to Fannie Mae at the time we purchased your loan. Occasionally a servicer may use a phone number that is different from the one shown on the loan purchase letter. And sometimes the servicer of record for a loan may hire an authorized "sub-servicer" with a different phone number to perform its servicing functions.
My property address is incorrect on the loan purchase letter I received from Fannie Mae. Whom should I contact to get it corrected?
Please contact your mortgage servicer to correct your property address.