Fannie Mae Expands List of Verification Report Vendors.. employment and assets as part of the desktop underwriter validation service. Currently, the DU validation service, a component of Fannie’s Day 1 Certainty representation-and-warranty relief program, only allows for three types of.
Fannie mae day 1 certainty We are an Authorized Report Supplier of Income and Employment and 4506-T Tax Transcripts verification reports, as well as an Authorized Report Distributor for Asset verification reports for Fannie Mae’s Desktop Underwriter (DU) validation service, a component of day 1 certainty.
The Desktop Underwriter (DU) validation service uses third-party data vendors to independently validate borrower income, employment, and asset data, providing our lenders Day 1 Certainty on validated loan components. Fannie Mae has an open platform for data vendor participation to provide choices to our customers.
CoreLogic, a global property information, analytics and data-enabled solutions provider, has announced that, effective in early August, it will have fully integrated its leading 4506-T income verification product with Fannie Mae’s Desktop Underwriter (DU) platform.
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CoreLogic integration with DU delivers verification data that meets Fannie Mae’s underwriting requirements. This, in turn, provides more certainty in income calculation and asset verification while lowering the risk of potential borrower fraud through altered bank statements.
Freedom from Representations and Warranties: Day 1 Certainty gives lenders freedom from representations and warranties for validated loan components plus greater speed and simplicity, and enables an improved borrower experience. "We are extremely pleased to be participating in Fannie Mae’s DU verification service.
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. in a pilot with Fannie Mae to become an eligible asset verification report supplier for the DU® validation service, part of Fannie Mae’s Day 1 certainty offerings. fannie mae’s new Day 1 Certainty.
BUT with access to new technology and software your underwriting team can access in 2017, you will now be able to focus their efforts on the loans that need attention (IE loans that do not pass Fannie Mae Day 1 Waivers). Over the next few blogs I will break down what each component of Day 1 is to help you better understand.
Fannie Mae’s Day 1 Certainty Program is designed to provide greater transparency and create a more efficient mortgage origination process for you. The CoreLogic 4506-T Direct product is now integrated into the DU validation service component of Fannie Mae’s Day 1 Certainty program.
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