To align with policy outlined in Lender Letter LL-2020-03, Impact of COVID-19 on Originations, there are temporary changes to the DU validation service in effect until further notice including age of documentation requirements, use of market-based assets, and suspension of employment validation.
Review the April 18 release notes for more information on age of documentation requirements and use of market-based assets.
Review the May 1 release notes for more information on the suspension of employment validation.
Download this printable resource and keep it on your desk, phone, or tablet, for reference when using the Fannie Mae DU validation service. Includes overview, best practices, and tips.
“For our mortgage bankers to change their processes, they’ve got to see the benefit, both for them and their customers. One of our associates shaved 16 days off his cycle time* – that’s a big deal.”
— Melanie Jackson, Operations Manager First Citizens Bank
*Customer comments are based on their own experiences with Day 1 Certainty. Reductions in cycle times may not be typical.