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Secondary Market

$4.5 billion loaned to
49,836 homeowners

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Our Programs

Self-Help offers two programs to lenders: flow and portfolio. The flow program allows lenders the assurance and convenience of a guaranteed buyer for qualified loans to low-and-moderate income homebuyers, along with the ability to sell loans directly to Fannie Mae through Self-Help. Self-Help’s saleable loan product gives lenders the liquidity they need to continue lending in underserved neighborhoods. This program applies to lenders seeking a secondary market for new originations.

Self-Help’s portfolio program gives lenders an outlet for loans that are non-conforming or otherwise ineligible to sell directly to Fannie Mae. Under the portfolio program, Self-Help purchases selected loans from lenders after a careful analysis of loan characteristics and performance. This program applies to lenders seeking to sell loans after origination.

A Self-Help Flow relationship
gives lenders...

  • A no-MI product that is saleable to Fannie Mae
  • 100% LTV
  • CRA credit
  • Reliability of having a guaranteed buyer for new originations
  • Affordability for borrowers

Flow Program Process

Before a flow relationship begins, lenders provide a representative sample of loans to Self-Help for review. Self-Help and lenders then enter loan purchase and servicing agreements, specifying whether transactions will be settled with cash or mortgage-backed securities. The general process for the ensuing flow relationship is as follows:

Step 1: Lender underwrites new loans manually, or through Fannie Mae’s Desktop Underwriter

Step 2: Lender commits and delivers loans on Fannie Mae's systems (eCommit and Loan Delivery). Lenders can sell for cash or swap for mortgage-backed securities.

Step 3: Self-Help conducts periodic quality control reviews to ensure loans meet underwriting and product standards.

Flow Program Pricing

Pricing for the flow relationship is tiered based on FICO and LTV. The recourse fee is built into the rate/yield. For specific pricing information, please see our pricing guidelines. Under the flow program, lenders earn the standard servicing fee of 25 basis points.

Portfolio Program Process

Step 1: Lender sends Self-Help an electronic file containing borrower and loan information of mortgages for sale

Step 2: Self-Help analyzes loan characteristics, performance and seasoning

Step 3: Self-Help conducts pre-purchase document file review and makes an offer on selected loans

Step 4: Self-Help and lender enter into Loan Purchase and Servicing agreements

Step 5: Lender selects transaction type: mortgage-backed securities, cash or swap and hold

Step 6: Lender provides Self-Help with monthly loan activity reports

Pricing

Pricing for portfolio loans is based on loan characteristics and other portfolio-specific factors. Under a portfolio agreement lenders generally retain servicing, earning the standard servicing fee of 25 basis points.


* No MI     * Saleable     * CRA Qualifying     * 100% LTV