Wintrust Mortgage - Correspondent Announces Delegated Loan Files Originated by Participating Lenders in Fannie Mae Day 1 Certainty are Now Eligible for Purchase
We are pleased to announce that loans originated by lenders participating in Fannie Mae Day 1 Certainty™, are eligible for purchase by Wintrust Mortgage under our Fannie Mae (FN) program for delegated loan files as of January 12, 2017.
Day 1 Certainty provides representation and warrant relief for:
Income, assets and employment validation through Desktop Underwriter® (DU®) Appraised value through Collateral Underwriter® (CU™) (with a qualifying CU risk score) Property value, condition, and marketability with enhanced waivers of property inspection requirements on refinances through DU.
Wintrust Mortgage will not require additional documentation to support the income or assets outside of the requirements listed by Desktop Underwriter, provided there is validated Day 1 Certainty findings provided.
TMC - Chief Operating Officer