Fannie Mae Temporarily Suspends Employment Validation Through DU

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Weiner Brodsky Kider PC

Fannie Mae recently announced that it is temporarily suspending employment validation through the Desktop Underwriter (DU) validation service due to the challenges caused by COVID-19.  This change will apply to all new casefiles created in DU on or after May 4, 2020.  Since the DU validation service may not be used to verify employment, lenders must conduct verbal verifications of employment, as specified in Selling Guide B3-3.1-07, and follow the temporary policies provided in Lender Letter 2020-03, which WBK previously covered here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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