As part of Fannie Mae’s Day 1 Certainty program, the agency announced it was vetting potential new vendors to provide verification services for the program.
Currently, verification services must come from The Work Exchange, Equifax or FormFree to independently validate borrower income, employment and asset data.
To mitigate the risk that Fannie Mae assumes by offering representation and warranty relief on validated loan components, it implemented a structured process and guidelines for determining eligible verification reports. Fannie Mae has released a list of report suppliers that have entered Fannie Mae’s report supplier assessment process, including First American Financial’s Interthinx and CoreLogic.
Fannie Mae will update the list of potential suppliers periodically. As prospective report suppliers are approved, their eligibility will be announced. Report suppliers may sell their reports directly to lenders, have authorized distributors, or both.
Prospective report suppliers as: Avantus/Credit Systems Design (NCRA), Blend, DataVerify, Early Warning Services, Finicity, FinLocker, Informative Research, MeridianLink, NCS, Plaid, PointServ, Roostify, SharperLending and Yodlee.