As part of Fannie Mae’s Day 1 Certainty program, the agency announced it was vetting potential new vendors to provide verification services for the program.
Currently, verification services must come from The Work Exchange, Equifax or FormFree to independently validate borrower income, employment and asset data.
To mitigate the risk that Fannie Mae assumes by offering representation and warranty relief on validated loan components, it implemented a structured process and guidelines for determining eligible verification reports.
Read the full article in The Title Report.
