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#1442595 - 09/14/10 04:31 PM FNMA Exclluded Parties
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,324
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 04:45 PM Re: FNMA Exclluded Parties Truffle Royale
West Coast Comp Offline
Gold Star
West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
We use Fraudguard, which automatically checks the exclusion list.
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