First American Mortgage Solutions is Now Participating in Fannie Mae's Day 1 Certainty by Offering Equifax-The Work Number Services Integrated in FraudGuard

​With our January 11th release, FraudGuard users can take advantage of Fannie Mae’s freedom from representations and warranties for employment and income verifications obtained through Equifax’s The Work Number® inside of FraudGuard.  

How to FraudGuard Users access TWN in Fannie Mae’s Day 1 Certainty Program
A lender must opt-in with Equifax and activate the appropriate institution ID with Fannie Mae to allow for audited copies of employment verifications to be provided to Fannie Mae/DU upon request.  The employment verifications are reviewed by Fannie Mae based on Social Security Number & Loan Number.  If a successful validation is made, lenders may be relieved of having to collect pay stubs and W-2 forms as the verification will be accepted in lieu of these documents. 

4506-T Status Update in the Day 1 Certainty Program
We are pre-approved and officially registered with Fannie Mae as a designated vendor in their Day 1 Certainty program for Income Validation with our 4506-T Tax Transcript Service.  The on-boarding process is in motion, to be followed by a pilot and production phase.  We will continue to communicate progress as we move onto the next phase with Fannie Mae. 

Fannie Mae’s Day 1 Certainty Background
Last October, Fannie Mae launched their Day 1 Certainty program aimed at helping lenders who sell loans to Fannie Mae, providing Day 1 Certainty in the form of enforcement relief of certain representations and warranties for validated components.  As part of the program, Desktop Underwriter (DU®) began a validation service designated to provide customers with enhanced loan origination controls, improved processes and certainty around the borrower’s income, asset and employment verification. 

• For more information on First American Mortgage Solutions' plethora of products & services, please contact Celine Adams.