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TMC Blog

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

1/24/2017

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​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.
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  • Home
  • TMC Conferences
    • 12 Days of TMC
  • The Network
    • The Power of the Network
    • Preferred Partner Network
  • Benefits
    • Collaboration Labs
    • Working Groups
    • TMC Benchmark
    • Member Event Calendar
    • TMC Blog
    • TMConnect
  • Join Our Family
  • About TMC
    • Our Team
    • Contact
    • Testimonials