(RECAP: Fannie Mae’s Day 1 Certainty, introduced in October, is one of the latest efforts to push the technology envelope while managing risk for lenders, adding certainty to their process, and improving the mortgage experience for all parties. One component of Day 1 Certainty is helping lenders validate income, assets, and employment electronically in Fannie’s automated underwriting system, Desktop Underwriter. Validation is performed through designated vendors and provides relief from representations and warranties on validated loan components, addressing risk up front in the lending process. This change allows mortgage originators to lend with confidence. Day 1 Certainty’s other components include enhanced property inspection waivers on certain refinances with rep-and-warrant relief on property value, condition, and marketability.)
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