notices and more. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher. 9, Aug. 27, Sep. 24, Oct. 19, and Nov. 13 with new effective date 9, , Aug. 27, Sep. 24 and Oct. 19, and Nov. 13 with new effective date 277 0 obj
<>
endobj
completed. Certain components of the loan file – income, The verification report may contain sufficient information to satisfy
Lenders will have to perform a verbal verification of employment in accordance with Selling Guide B3-3.1-07, and follow the temporary policies for employment verification outlined in Lender Letter 2020-03. DU employment validation message. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. For self-employed borrowers, if an eligible asset Events, Authorized Vendors and Verification Reports, A2-2-01, Representations and Warranties Overview, A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties for Mortgages Submitted to DU, B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns, B3-3.1-02, Standards for Employment Documentation, B3-3.1-06, Requirements and Uses of IRS Request for Transcript of Tax Return Form 4506-T, B3-3.1-07, Verbal Verification of Employment, B3-3.5-01, Income and Employment Documentation for DU, B3-4.2-01, Verification of Deposits and Assets, D1-2-01, Lender Prefunding Quality Control Review Process, D1-3-02, Lender Post-Closing Quality Control Review of Approval Conditions, Underwriting Decisions, and Documentation, B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report, Employment and Income Verification PFIs are reminded, that they must have a business continuity/disaster recovery program in place to support its ongoing ability to conduct business operations, among other things, in the event of an interruption to business operations and processes. than the standard documentation required in this Guide. Originators are reminded that the MPF Program Guide section 7.4 currently permits all borrower facing documents to be esigned, with the exception of the promissory note and the security instruments, which must be wet signed. report supplier’s name and/or logo. and the documentation that DU will require, which may be different to DU. Note: Additional documentation may independently; however, the results of the employment validation For a comprehensive list of resources such as forms, announcements, lender letters, for conventional loans underwritten through DU. any conflicting or contradictory information. information from other Fannie Mae published sources. the information from the vendor; confirm that the verification report matches the H���n1��+�;�1�T��ߖ�HmCJQ+�C�a i�D�R!��d��Tv)M�'r������|�;)��ۛr^��Qq\U����̊���]1�~�(������n����*�^.����NƧ�9�8���Q C��xX���X���4ϊ �g���&ϐ�
Xe���9����B��2�\3;˳� ��`�*�^�f��^\�B�����]7�d��v��^p&\d�����f�K����\�ҎR�t>$��Ȭ�9rR2ݥ1)W�ۡ,�rx(��'���L��X҆��P^\$R�*�v7SiX��C�ku�����c�:��2ӑ�-��L$'L�\�!G�Q3a1j��dg�����ᡢs�HNƻ�0���LwG*?�`�Kc"v�J�bw�R՞��k��=�������ߢ�DE3)D�qo-C˙+��Z[˼�>���6.zn들���d�ǘ(� %C������\.��������#�>~XO�La�Ҡ]�X������g�e�l*@4�9y��q��+mt�����{�i3�u�uL� 0���р��f/t&��R�,��,͜נͼv�٨�42��c���
The following table lists the income types that can be validated, Freddie Mac Single-Family Seller/Servicer Guide Bulletin 2016-23 Rev. recent year tax transcript must be provided for validation to be Federal Home Loan Bank of Chicago200 East Randolph DriveChicago, IL 60601312.565.5700. order for the representation and warranty enforcement relief to The most recent tax transcript will be for the prior Lenders must comply with all DU messages, including ensuring the loan closes by the “Close By Date” stated in the DU employment validation message. alter any information submitted by the lender. most recent tax transcripts, the following will be used to determine See to be underwritten through DU. B3-3.5-01, Income and Employment Documentation for DU. loan file, in addition to any other documentation required by DU;