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Mortgage Lenders Receive Rep and Warrant Relief on 4506-T Income Tax Return Verification Orders
Spokane, Wash. – Mortgage technology provider SharperLending LLC is pleased to announce that its 4506-T tax return verification system has been authorized by Fannie Mae as a Desktop Underwriter® (DU®) validation service provider for the Day 1 Certainty program. The SharperLending name will be available for lenders to select in the Fannie Mae DU provider drop-down list for income verification.
With SharperLending, mortgage lenders that order a 4506-T tax return verification (TRVs) can take advantage of the freedom from representations and warranties that Fannie Mae offers with Day 1 Certainty. Technology resellers that private label the SharperLending 4506-T tax return verification system can also extend this benefit to their mortgage lender clients.
To be a DU validation service provider and fully integrated into DU as part of the Day 1 Certainty program, Fannie Mae performs extensive due diligence on their authorized and approved DU validation service providers. SharperLending has successfully completed their detailed review.
“We are honored to have our 4506-T tax return verification software authorized to be a DU validation service provider as part of the Day 1 Certainty program,” says Dave Black, President and CEO of SharperLending LLC. “Any mortgage lenders that use systems that are authorized and approved for Day 1 Certainly like SharperLending can receive this rep and warrant relief on validated loan components. We are now live and offering this through DU.”
This approval builds on the existing relationship between SharperLending and Fannie Mae. SharperLending has solely owned and offered a direct consumer credit data connection to the Fannie Mae Desktop Originatorâ/DU to its credit reporting agency resellers for over a decade. Additionally, SharperLending was one of the first to have its Appraisal Firewallä real estate appraisal technology submit completed appraisals electronically to the Uniform Collateral Data Portalâ and Fannie Mae’s Collateral Underwriterâ automated risk assessment technology.
In addition to lenders directly, becoming a DU validation service provider extends benefit to all the mortgage service and technology reseller companies that provide the SharperLending 4506-T technology to their clients.
“Resellers who provide our 4506-T technology to their lender clients also benefit because they can private label it with their brand while enabling Fannie Mae to extend rep and warrant relief to their clients on validated loan components,” continues Black. “This saves resellers time, energy, and the financial resources required to undergo the Day 1 Certainty due diligence process. At the end of the day, our technology approval means the technology approval for hundreds of companies that use it, thousands of Fannie Mae eligible mortgage transactions, and a more robust mortgage lending industry overall.”
Day 1 Certainty is a trademark of Fannie Mae.
About SharperLending LLC
Headquartered in Spokane, Wash., SharperLending LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed billions of secure mortgage transactions. SharperLending has offered a direct consumer credit data connection to Fannie Mae DO/DU for over 10 years. SharperLending, LLC has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, visit www.SharperLending.com, or call (800)452-1174.