Rules - February 10, 2017

Fannie Mae-Collateral Underwriter Version 4.1 Release Notes (Effective March 25, 2017)

Rule Synopsis: The information directly below addresses the changes to the release notes for CU Version 4.1 that have been announced in the updated release notes dated January 31, 2017. Remember that CU Version 4.1 will be rolled out over the weekend of March 25, 2017. The release notes cover these following changes: Updates to [...]

2018-10-27T21:45:59-05:00November 4th, 2017|

Fannie Mae-DO/DU Release Notes DU Version 10.0 – New Release scheduled for the weekend of February 25, 2017

Rule Synopsis: This article outlines the changes we can expect to see when DU 10.0 is updated over the February 25, 2017 weekend. DU validation service updates for income, employment and asset message updates Interpretive CommentsDU Validation Service Updates to Income, Employment and Asset Messages: The change is for an update to the reference numbers [...]

2018-10-27T21:46:48-05:00November 4th, 2017|

Fannie Mae – Updated FAQs and Vendor Lists – Feb. 2017 • DU Validation Service – Frequently Asked Questions • Certainty on Appraised Value FAQs • Fannie Mae Issues List of Approved Report Vendors for Day 1 Certainty

Rule Synopsis: The DU Validation Service was released on December 10, 2016 and includes validation options for employment, income and asset verifications through third-party vendors. This is commonly referred to as “Day 1 Certainty”. The updated FAQ document now has 52 total questions. We will cover those updated and/or those that are new. Fannie Mae [...]

2018-10-27T21:48:08-05:00November 4th, 2017|

Fannie Mae SEL-2017-01 – Dated 1/31/17 • Comparables in New Projects or Subdivisions • Property Inspections by Appraiser Trainees • Adjustments to an Appraisal for Sales Concessions: • Selling Guide Update regarding Site Condos – Effective 4-1-17

Rule Synopsis: Fannie updates new construction appraisal requirements by allowing two pending sales to be used as comp. Details – Call me! Fannie Mae is updating their selling guide for a variety of topics. This article will focus primarily on the topics that benefit originators. The updates announced in this Selling Guide Announcement are: Comparables [...]

2017-12-27T12:14:23-05:00November 4th, 2017|

Understanding Pricing Gibberish: Where does the Money Come From? (Part One)

Rule Synopsis: Part One – Where Does The Money Come From? As a compliance professional, you have to be the Jack or Jill of all trades in order to understand how policy and strategy can be monitored and developed. If you come from a legal background, you may have never been exposed to the often-complex [...]

2017-12-27T12:14:23-05:00November 4th, 2017|