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In The Know on Quality Control - Fannie Mae’s Announcement SEL-2023-02

On March 1, 2023, Fannie Mae released ANN SEL-2023-02.


Fannie Mae has announced updates to their Quality Control requirements that will go into effect later this year. The biggest impacts include implementing a specified minimum selection for Prefunding and updating the Post-Closing QC timeframe from 120 to 90 days.


ADFITECH will continue to monitor Fannie Mae for further updates


Prefunding minimum selection - Lenders must complete a minimum number of prefunding reviews monthly. The total number of loans to be reviewed must equal either:

  • 10% of the prior month’s total number of closings, or

  • 750 loans.

Post-Closing QC timeframe - Fannie Mae revised the timeframe for the post-closing quality control cycle from 120 days to 90 days and eliminated the individual component timeframes. This will allow lenders to complete each part of the quality control cycle as they see fit.


Effective: Lenders are encouraged to implement these changes immediately but must do so by Sept. 1, 2023.


The reasoning behind these changes are that quick, accurate results provide you a better understanding of any potential quality problems with your book and reduce the amount of time you have to make mistakes in that area by 30 days- Duane Gilkinson, Fannie Mae’s senior director of credit risk management.



Contact your customer service representative to discuss adding Pre-Funding Quality Control to your account today.

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