In November 2016, Fannie Mae announced its new Day 1 Certainty™ program. The Day 1 Certainty Program is designed to provide greater transparency and create a more efficient mortgage origination process for you. CoreLogic is actively working with Fannie Mae to implement our 4506-T verification service into the Day 1 Certainty program and we expect full approval shortly.
This site is your one-stop resource for the latest information regarding Day 1 Certainty. It is updated regularly with:
If you are utilizing a Loan Origination System (LOS) to order your 4506-T reports, did you know that currently, you may not be able to use the LOS to submit loans to Fannie Mae via the Day 1 Certainty program?Your LOS Provider is required to update their Fannie Mae delivery specifications to accommodate the Day 1 Certainty data requirement updates.To utilize your LOS to submit loans via the Day 1 Certainty program, your LOS provider must update interface specifications for Day 1 Certainty. This is true regardless of which new Day 1 Certainty approved data provider that you use – the requirement is LOS specific, not vendor dependent.All LOS providers have their own timelines for Day 1 Certainty updates. We recommend contacting your LOS provider to get their timeline for updates to support your vendors on the Day 1 Certainty program.
Fannie Mae’s Day 1 Certainty Program CoreLogic® is a prospective report supplier
What is Day 1 Certainty? Day 1 Certainty is Fannie Mae’s attempt to create a more efficient mortgage process and provide enforcement relief of certain representations and warranties for certain aspects of the mortgage underwriting process from “day one,” including:
Currently, only Equifax and FormFree provide Day 1 Certainty services via Desktop Underwriter (DU). CoreLogic is an authorized reseller for each of these solutions. Additionally, CoreLogic and several other providers are currently integrating verification solutions into the program with anticipated rollout to customers shortly. How does D1C work? When a lender opts in to use Day 1 Certainty, DU will use third-party vendor data to perform calculations and validate information entered by the lender in DU. With borrower consent, the lender orders a verification report from a designated vendor. The lender reviews the report, addresses any discrepancies with the borrower, enters the information into DU, and submits the loan. DU obtains a duplicate copy of the report from the vendor and performs its own income and asset calculations to arrive at a value that is compared to DU. DU issues messages advising the lender on whether the income, assets, and/or employment could be validated, as well as the documentation required. CoreLogic will be able to provide 4506-T verification services, as well as employment verification via The Work Number and asset verification via FormFree, allowing you to manage all your Day 1 Certainty needs via a single provider.