Fannie Mae and Freddie Mac have taken different positions on how to deal with new seller/servicers that havent been approved for very long. While Fannie has set purchase limits on how much production newly approved seller/servicers can sell to the GSE, Freddie Mac has shied away from such caps. A spokesman for Freddie told Inside The GSEs that it treats all its customers equally. We dont have a limit on new customers, he clarified. Lenders must meet the net worth minimum, which is roughly $2.5 million. Fannie Mae, on the other hand, is tying loan sale volume to net worth. The lower a lenders net worth, the less it can sell to Fannie. According to a recent message posted to Fannies website by executive vice president and chief risk officer John Nichols, Fannie placed limits on new customers primarily nonbanks because the company saw what it called a significant shift in the composition of our customer base and the emergence of many new originating institutions with whom we have done little or no business.