Changes effective June 1, 2023 with regards to ASSET AND INCOME MODELER (AIM) FOR DIRECT DEPOSIT DELIVERY REQUIREMENTS:
SSET AND INCOME MODELER (AIM) FOR DIRECT DEPOSIT DELIVERY REQUIREMENTS
Effective for Mortgages delivered on and after June 1, 2023; however, Sellers may implement immediately
To improve efficiency for Sellers, we are no longer requiring the delivery of the valid value “H85” for ULDD Data Point Investor Feature Identifier (IFI) (Sort ID 368) for Mortgages using Automated Income Assessment with Loan Product Advisor using Account Data (Direct Deposits).
System impacts
On June 1, 2023, Loan Selling Advisor® will be updated to prevent the delivery of the valid value “H85”. Sellers must update their systems accordingly.
The applicable Loan Product Advisor feedback message will also be retired on June 1.
Guide impacts: Sections 5904.6, 6302.10 and Exhibit 34
Notice of changes to certain negotiated provisions
This paragraph serves as notice to Sellers with Purchase Documents that contain one or more negotiated provisions with terms related to Mortgages delivered using Investor Feature Identifier (IFI) “H85”. The changes to the delivery requirements in this Bulletin, and any corresponding Guide updates, supersede any such terms as of this Bulletin’s effective date.
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