Fannie Mae will launch EarlyCheck Version 4.0 during the weekend of Sept. 12 to enhance lenders' ability to resolve delivery issues prior to delivery.
The changes in the new release will apply to loans submitted to EarlyCheck through the user interface and direct integration after that weekend.
In the update, EarlyCheck will align with the rules in the new Loan Delivery application, coming Dec. 1, 2015, to provide greater transparency and certainty.
The changes include:
- Edit modifications to align all the rules in EarlyCheck with the rules in the upcoming new Loan Delivery application. These changes include more intuitive edit messages to improve lenders’ ability to quickly resolve delivery edits.
- Support for Uniform Loan Delivery Dataset (ULDD) Phase 2 loan delivery XML file changes, as well as several revisions to Phase 1 data points.
- Updates to the EarlyCheck Loan-Level Results, including the display of up to four borrowers and the display of up to ten provided and derived Special Feature Codes.
This new version will provide lenders an advance view of the future edits in the new Loan Delivery application and allow lenders to prepare for the ULDD Phase 2 updates that will be required as of June 27, 2016.