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April 16
Handling ACH Origination Exception Issues
Shelly Simpson

April 17
Fair Lending - Internal Monitoring
Patricia Cashman

April 22
A Banker's Guide to Virtual Currency
Andrew Beal

April 24
BSA/AML Compliance: Writing the SAR Narrative
Ken Golliher

April 29
HSA Basics
Whitney Johnson

April 29
Required Training for Loan Originators
Mary Beth Guard and Jack Holzknecht



Topic Options
#1442595 - 09/14/10 12:31 PM FNMA Exclluded Parties
Truffle Royale Offline

10K Club

Registered: 07/09/03
Posts: 13748
Haven't seen this brought up yet.
One of our investors jumped on this so we've been doing it since 6/21.
I'm interested in how others are dealing with this issue.



Validation of Qualified Parties to the Transaction

Fannie Mae is implementing a new policy that requires lenders to confirm that companies or individuals involved in the origination, underwriting, or servicing of the mortgage transaction are not on the General Services Administration (GSA) Excluded Party List or the HUD Limited Denial of Participation List (“LDP List”) prior to delivery of the loan. Regardless of the reason for the party being excluded, any party to the transaction included on either list will result in the loan being ineligible for delivery.

Companies or individuals involved in a mortgage transaction include the following:

• Borrower
• Seller
• Listing/Selling Real Estate Agents and Companies
• Builder
• Title Agent/Title Company
• Buyers and Sellers Attorney
• Settlement Agent/Settlement Company
• Appraiser/Appraisal Company
• Loan Officer
• Loan Processor

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Lending Compliance
#1442612 - 09/14/10 12:45 PM Re: FNMA Exclluded Parties [Re: Truffle Royale]
West Coast Comp Offline
Gold Star

Registered: 06/21/10
Posts: 343
Loc: Lost in the rain.
We use Fraudguard, which automatically checks the exclusion list.
_________________________
Where I go there I am. smile

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