Be completely confident in lending decisions.

Day 1 Certainty from Fannie Mae integrates an automated pre-verification step in the lending process. Because verification is handled electronically, it takes very little time and provides dramatic benefits. In addition, by using electronic data instead of hard-copy documents, lenders and borrowers alike experience a simpler, faster lending process.

The program is a significant move on the part of Fannie Mae to embrace technology to provide greater efficiency and significantly reduce risk in the mortgage lending process. Through Day 1 Certainty, lenders get

  • An easier documentation process for essential loan information
  • Streamlined loan processing
  • Dynamic underwriting based on confirmed information about income and assets
  • An efficient process that eliminates duplicate documentation and checks
  • Freedom from certain representations and warranties for eligible mortgages
  • Faster closing — with confidence

How is Day 1 Certainty changing the lending industry?

Technology makes it possible for all of us to have virtually any information we need, right at our fingertips. Day 1 Certainty from Fannie Mae provides a way to use the best aspects of modern technology to simplify and streamline the lending process while reducing risk for all parties.

Across the competitive mortgage industry, lenders have integrated electronic document submission, online checklists, and e-signature capabilities to make it easier for borrowers to take advantage of their services. Day 1 Certainty from Fannie Mae takes that technology integration a step further by enabling borrowers to authorize use of electronic data to verify key application information early in the mortgage process.

By working through Fannie Mae's authorized Verification Report Suppliers, lenders are ensured seamless, secure, and timely information validation. In addition, through DataVerify Validation Services™, lenders not only receive a report of variances, but details about the nature of the variances and recommended actions for resolution, so issues can be addressed quickly.

Overall, Day 1 Certainty from Fannie Mae provides greater access to lending, supports faster and better processes, and helps reduce risk.

How does Day 1 Certainty from Fannie Mae affect my organization?

Instead of submitting paper forms to Fannie Mae, lenders obtain borrower permission to pull data electronically, including credit, tax return, employment, and income information. Lenders then work with authorized Verification Report Suppliers to automate the review of borrower data. Data is reviewed and verified — and any issues addressed — before the lender submits the case file to Fannie Mae's Desktop Underwriter® (DU®) system.

Validation services are not an added burden for lenders. On the contrary; validation automation and the resulting time savings allow lenders to:

  • be more responsive to borrowers
  • work with qualified borrowers whose circumstances may have previously made mortgage access difficult
  • meet borrower expectations for timely service
  • improve the overall borrower experience

Even more important, the information gained helps lenders:

  • close loans faster
  • ensure higher quality loans
  • eliminate certain representations and warranties on eligible mortgages

By automating the legwork of verification and mitigation before submitting to DU, lenders experience a dramatic time savings. Fannie Mae reports that pre-approvals happen in minutes instead of days, and underwriting time is reduced by 4-7 days overall.

Learn more about choosing the right partner for Day 1 Certainty.

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