Fannie Mae Day 1 Certainty

Correspondent clients with AFR can receive Day 1 Certainty™ by using the DU validation service with Fannie Mae to quickly and easily validate Borrower income, assets, and employment for a more efficient Post-Closing process.

The Desktop Underwriter (DU) validation service validates loan application data upfront, giving you faster and easier validation, and freedom from representations and warranties on validated income, assets, and employment.

How It Works

• Step One:
  Consent from Borrower to pull electronic data and credit report.
• Step Two:
  Lender orders report from vendors.
• Step Three:
  Lender submits casefile to DU.
• Step Four:
  DU validates income, assets, and employment.
• Step Five:
  Lender closes loan and delivers to Fannie Mae.
• Day 1 Certainty:
  Lender receives Day 1 Certainty™ for income, assets, and/or employment.
• Step Six:
  Lender gets a more efficient post-closing QC process.

Benefits

• Document Collection: Electronic consent allows Borrower not to have to collect paper documents.
• Dynamic Underwriting: Confirms Fannie Mae requirements and validates key loan data up front.
• No Reverification: Skip this step on most documents with assets, income, and employment.
• Lower Fraud Risk: Data is gathered from the source.
• Certainty: Receive certainty regarding important borrower information and receive freedom, accuracy, and integrity.