Fannie Mae NEW Lockbox effective July 1,2011

ELECTRONIC LOCKBOXES REQUIRED ON ALL FANNIE MAE LISTINGS
FAQs on Lockbox and Keycode Change
Q. There is only one door. Do I still use a marketing lockbox?
A. Some properties, such as a condo, may have only one door. When practical, use an electronic
box on the door and place the Fannie Mae box at another secure location. Document the location
of the Fannie Mae lockbox in the system. If there is only one available position for the lockbox,
use the Fannie Mae lockbox and place appropriate comments into the system. Make sure all
lockbox placements comply with HOA guidelines.
Q. The back door is accessible only by a locked gate due to a swimming pool. Do I still use
two lockboxes?
A. Yes, you may attach the additional lockbox to any secure location on the property or provide
the gate lock combination for access to the back yard by those authorized to have the lockbox
combination.
Q. Can I give out the combination to the Fannie Mae combination lockbox if an agent is at
the house and can’t access the electronic lockbox for any reason?
A. No, you are never authorized to release the combination to anyone other than Field Services,
Fannie Mae appraisers, Fannie Mae inspectors, Fannie Mae contractors, and Fannie Mae
employees.
Q. Can I give out the combination to the Fannie Mae combination lockbox to a buyer or
buyers’ lender contracted Home Inspector, Appraiser or Contractor?
A. No, you are not authorized the release the combination to anyone other than Field Services,
Fannie Mae appraisers, Fannie Mae inspectors, Fannie Mae contractors, and Fannie Mae
employees. The selling agent needs to be present for all inspections and provide access to the
property for those inspections.
Q. Can I give out the combination to the Fannie Mae combination lockbox to the Police or
Fire Department if they request it?
A. If the Police or Fire Department can show imminent need for access, you are permitted to
release the combination to them, but immediately contact your Sales Representative or Asset
manager with the details of the request and document the system.
Q. Can I give out the combination of the Fannie Mae combination lockbox to a HOA
requesting access for any reason?
A. No, you are not authorized to release the combination to anyone other than Field Services,
Fannie Mae appraisers, Fannie Mae inspectors, Fannie Mae contractors, and Fannie Mae
employees. If the HOA requires access, meet the HOA representative at the property and provide
access.
© 2011 Fannie Mae. Trademarks of Fannie Mae. 1