In connection with our conventional loans, we provide duplicates of the uniform promissory notes published by the Federal National Mortgage Association (FNMA) on their website (https://www.fanniemae.com/singlefamily/notes). Each of these notes provide a footer stating the name of the document, the form number, revision date, and pagination.
Some of these notes, such as FNMA Form 3200 (Multistate Fixed Rate Note), are used in multiple states. Sometimes the text of the form is modified for a particular state, in accordance with both FNMA’s instructions to such form and state law (e.g. in Form 3200, a cautionary notice may be included above the borrower signature lines for loans secured by property in Alabama).
We are going to be adding additional text to the footers of the multistate forms to indicate when the content of these forms have been substantively modified for a particular state.
For example, in cases where Form 3200 is used for loans secured by property in Alabama and the cautionary notice is included, the footer would be as follows (format may be slightly different on the actual note):
MULTISTATE FIXED RATE NOTE –Single Family– Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Modified for ALABAMA Form 3200 1/01 (page # of # pages)
These updates will be made over time, with the first document edits (Cx5, FNMA Form 3200 Fixed Rate Note) taking effect December 14, 2013. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
December 9, 2013