Posts Tagged 'Prefunding'

Changes to Fannie Mae’s Prefunding Requirements

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The lender must maintain and implement a written prefunding QC plan that outlines requirements for reviewing a sample of its loans prior to closing or, in the case of loans acquired from a delegated third party, prior to acquisition. The lender must have documented procedures that include, at a minimum, the following elements:

  • timing of the prefunding QC reviews,
  • loan selection process,
  • verification of data and documents, and
  • reporting.

The lender’s ...

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