Funding Shield
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ALL OF YOUR FANNIE MAE LOANS MAY NOW BE UNDELIVERABLE! Now mandated by Fannie Mae: “QUALIFIED PARTICIPANT” VALIDATION Fannie Mae’s Sellers Guide A3-2-02 & Lender Letter LL-2010-03 Effective June 1, 2010, Fannie Mae is requiring that for all applications taken as of 6/1/2010, all lenders must confirm that “any person or entity with critical influence or substantial control over the origination, underwriting or servicing of a mor tgage or any related function,” be validated as not on certain government exclusionary lists. This means that all of the following & their employees should be searched for every transaction: Mortgage Brokers, Originators, Correspondent, Wholesale & Warehouse Lenders, Appraisers, Contract Underwriters, Title Companies, Closing Attorneys, Escrow Companies, Contract Processors, Servicers, Due Diligence Companies & Mortgage Insurance Companies. *“Failure to comply may result in the loan being ineligible for delivery.”* XxxxxxxxxFundingShield’sxxxxxxxx “Qualified Participant Compliance Service” Will assist your compliance needs with Fannie Mae’s Sellers Guide Section A3-2-02 Requirements FundingShield will issue you a “Transactional” & “Corporate Certificate of Compliance” & assure that all identified “Qualified Participants” & employees are not on exclusionary lists. FundingShield will also gather your third party vendor Qualified Participant Info for you. FOR MORE INFORMATION CONTACT: Keith Nance, Senior Vice President of Sales Direct (800) 295-0135 ext 8305 * [email protected] 44 Wall Street, 4 th Floor, New York, NY 10005 (800) 295-0135 * www.FundingShield.com
Transcript of Funding Shield
ALL OF YOUR FANNIE MAE LOANS MAY NOW BE
UNDELIVERABLE!
Now mandated by Fannie Mae:
“QUALIFIED PARTICIPANT” VALIDATION
Fannie Mae’s Sellers Guide A3-2-02 & Lender Letter LL-2010-03
Effective June 1, 2010, Fannie Mae is requiring that for all applications taken as of 6/1/2010, all lenders must confirm that
“any person or entity with critical influence or substantial control over the origination, underwriting or servicing of a mortgage
or any related function,” be validated as not on certain government exclusionary lists.
This means that all of the following & their employees should be searched for every transaction:
Mortgage Brokers, Originators, Correspondent, Wholesale & Warehouse Lenders, Appraisers, Contract Underwriters, Title Companies,
Closing Attorneys, Escrow Companies, Contract Processors, Servicers, Due Diligence Companies & Mortgage Insurance Companies.
*“Failure to comply may result in the loan being ineligible for delivery.”*
XxxxxxxxxFundingShield’sxxxxxxxx
“Qualified Participant Compliance Service”
Will assist your compliance needs
with Fannie Mae’s Sellers Guide Section A3-2-02 Requirements
FundingShield will issue you a “Transactional” & “Corporate Certificate of Compliance”
& assure that all identified “Qualified Participants” & employees are not on exclusionary lists.
FundingShield will also gather your third party vendor Qualified Participant Info for you.
FOR MORE INFORMATION CONTACT: Keith Nance, Senior Vice President of Sales
Direct (800) 295-0135 ext 8305 * [email protected]
44 Wall Street, 4th Floor, New York, NY 10005
(800) 295-0135 * www.FundingShield.com
