POLICY

POLICY
Help Is at Hand
Q. Who should I contact if I have questions about the Uniform Mortgage Data ProgramSM (UMDPSM) and its components?

A: We would recommend first visiting eFannieMae.com to view resources posted on our UMDP and related pages. You can also contact your Fannie Mae representative for assistance. But don’t wait. If you have challenges with understanding and implementing these requirements, the sooner you reach out for help the better.
TECHNOLOGY
DU for Government Loans September Release Implemented
Fannie Mae successfully implemented the Desktop Underwriter® (DU®) for government loans September 2011 release. This release included a new field for the FHA TOTAL Mortgage Scorecard, FHA loan limit changes and message updates, and updates for HUD Mortgagee Letter 2011-11.
New B2B File Transfer Solution Coming Soon
Fannie Mae’s National Underwriting Center (NUC) is introducing a new business-to-business (B2B) file transfer solution. Users will be able to transfer documents to NUC electronically, helping to reduce paper handling and shortening the time required to fulfill requests. B2B provides secure file transmission and delivery, and enables bulk transfers of files. Select lenders will begin onboarding around September 26, 2011. For details, review the Quality Assurance System page and access the B2B Reference Materials.

September 20, 2011

Underwriter’s Puzzler
Risky Business?
Jane Youngbuyer has applied for a mortgage loan. You must underwrite the loan manually. How can you determine the overall risk of this loan and determine if it is eligible for sale to Fannie Mae? What’s the answer?

Economic Insight
Fannie Mae Releases August Consumer Indicators
Americans are growing more pessimistic about the economy, home prices, and household finances, according to Fannie Mae’s August National Housing Survey. Information from the August 2011 survey can help focus our collective efforts on stabilizing the housing market.

TRAINING
Certificate of Completion Available for Using the Uniform Appraisal Dataset Tutorial
Using the Uniform Appraisal Dataset is a self-paced tutorial that reviews how to apply the new UAD requirements and guidelines when completing appraisal data files. Underwriters can use the information in the tutorial to interpret appraisal data files completed using the UAD standards. We have now added a Certificate of Completion to the tutorial, which participants can print out after completing the tutorial and its accompanying course evaluation.
REMINDERS
Temporary High-Balance Loan Limits Set to Expire September 30
The High-Cost Area (HCA) loan limits for high-balance mortgage loans (HBLs) will change for loans originated after September 30, 2011. Barring congressional action, the “temporary” loan limits now in place will expire on that date, and loans with mortgage note dates on or after October 1, 2011, will be subject to the “permanent” limits.

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