After reviewing your mortgage information and determining your investor, choose whether the request is for an LLC or a Trust and select Fannie Mae or Freddie Mac.

All four questions must be answered. The Special Loans Department will review the application and supporting entity document before confirming next steps.

An assumption application can request a purchase or a release of lien. Select the investor or loan program shown in your mortgage information.

Provide a clear reason for the assumption. If applicable, attach a copy of your Divorce Decree with the completed application.

Form 236 is the Fannie Mae Application for Release of Security. Form 715 is the Freddie Mac Borrower Application for Partial Release or Easement.

The request may involve a partial release, easement, addition, subdivision, lease, partition, condemnation, or substitution of security. Supporting legal descriptions, surveys, appraisals, and approvals may be required.

Fannie Mae Form 236 - key points

• The documents listed are required for an application to be considered complete, whether the request will be reviewed by the servicer or escalated to Fannie Mae.
• Each release of security submission is reviewed on a case-by-case basis. Fannie Mae may request additional information from the servicer.
• If Form 236 is incomplete, the submission will not be processed by Fannie Mae.
• The servicer must encrypt emails containing nonpublic information and include the Fannie Mae loan number in the subject line.
• Questions or concerns may be emailed to partial_releases@fanniemae.com.
• For an easement, the appraisal must indicate current value, current lot size, easement size, and estimated value with or without the easement as applicable.
• For a lease of oil, gas, or mineral rights, the appraisal must address the drill site, ingress/egress, distance from the dwelling, and value with the lease in place.
• For a partial release, the appraisal must show property value and lot size before and after release and the value of the released portion when applicable under Texas Section 50(a)(6).
• For an addition of land, the appraisal must confirm the additional land is free of hazardous materials; if it does not abut the existing parcel, it must confirm the parcel is non-buildable.
• For a partition, the appraisal must show estimated value after partition and confirm retained property conforms to local zoning requirements.
• For a substitution of security, values must assume all relocation or construction requirements, zoning restrictions, and applicable building codes have been met.
• For a condemnation, provide the government agency compensation and valuation documents, the impacted-property survey, and the condemnation or eminent-domain filing.

Freddie Mac Form 715 - key points

• Freddie Mac review is necessary for the selected partial release or easement request in connection with the Freddie Mac Mortgage secured by the Property.
• The request summary must describe the proposed partial release or easement and why it is needed, including before and after release values.
• If there are no exceptions requiring investor review, use delegated authority to proceed.
• Explain every Yes response to the Impact and property-restriction questions.
• For liens and judgments, state None if there are no liens or judgments other than the Freddie Mac Mortgage.
• This form is Freddie Mac Form 715, Borrower Application for Partial Release or Easement, from Bulletin 2019-8, effective 08/01/19.