Fannie Mae released Lender Letter 2013-07 to acknowledge its awareness of the challenges that lenders face in the implementation of the wide range of regulatory requirements under the Dodd-Frank Act. The Lender Letter, more importantly, apprises sellers of single-family loans of Fannie Mae's position on such matters as random and discretionary sampling; the lender's operational controls; repurchases during the initial transitional period; compliance with the CFPB Final Rule and state laws; and documentation and record retention.
