• MPF Xtra
  • May 9, 2024

MPF Announcement 2024-34

MPF Xtra Selling Updates – FNMA SEL-2024-02

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published SEL-2024-02 which announces the expansion of the Desktop Underwriter® (DU) validation service to allow income and employment validation using an asset verification report.

Originators must order an asset verification report containing at least 12-months of data from the borrower’s checking and/or savings account(s) from an approved third-party vendor.

Effective: The DU validation service will be updated on March 29, 2024, to validate income and employment for new casefiles that reference an eligible third-party asset verification report. Originators must opt-in through DU to participate.

The Fannie Mae Selling Guide has been updated to include the expanded DU validation service.

To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.

Contact Us

MPF Service Center

(877) 345-2673