The following initiatives were jointly established by Fannie Mae and Freddie Mac, at the direction of our regulator, to provide common data requirements as part of the UMDP.
Reports are now available through Fannie Mae Connect.
The following updates were made in December: expanded the DU validation service to include assets and employment; introduced relief from reps and warrants on property value for loans with Collateral Underwriter risk score of 2.5 or lower; discontinue the Property Inspection Waiver fee for loans delivered to Fannie Mae on or after Jan. 1, 2017; clarified when lenders must update appraisers of changes to a sales contract; and other miscellaneous updates.
Information on the 2017 general and high-cost area loan limits and updated resources are available. The loan limits increase for the first time since 2006.
Access the Guide via the link below or AllRegs.com.
Stay on course with upcoming news and timelines.