Fannie Mae Selling Guide B3-2-04 — DU Documentation Requirements
Fannie Mae Selling Guide B3-2-04 — DU Documentation Requirements.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Selling Guide B3-2-04 — DU Documentation Requirements — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide B3-2-04 — DU Documentation Requirements
B3-2-04, DU Documentation Requirements (03/31/2015) Introduction This topic contains information on DU documentation, including: Required Documentation for the Permanent Loan File DU Documentation Requirements Transferring Documentation Flexibilities to Another Lender Required Documentation for the Permanent Loan File The following documents must be maintained in the permanent loan file: the complete loan application (the full Form 1003), the final DU Underwriting Findings report, and the final Underwriting Analysis report produced by DU. Lenders are not required to prepare a Uniform Underwriting and Transmittal Summary (Form 1008) for loans underwritten with DU and subsequently delivered to Fannie Mae. DU Documentation Requirements DU indicates the minimum verification documentation requirements necessary for the lender to process the loan application. While DU may offer a reduced level of documentation, a more comprehensive level of documentation is always acceptable and in some instances should be required by lenders when circumstances in the loan file warrant it. DU documentation requirements are based on the specific risk factors present in each loan file. The requirements appear in the DU Underwriting Findings report in the section titled Verification Messages/Approval Conditions. DU indicates the minimum documentation requirements for income and asset verification, credit- related documentation, and level of property fieldwork. Transferring Documentation Flexibilities to Another Lender The documentation flexibilities that apply to loan casefiles underwritten with DU are transferable to any lender that subsequently delivers the mortgage to, or services it for, Fannie Mae. The terms of the closed mortgage and the information in the underwriting file must match the data on which DU based its recommendation. For additional information, see: B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report, and B4-1.1-02, Lender Responsibilities.
Operationalizing Fannie Mae Selling Guide B3-2-04 — DU Documentation Requirements
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/fnma-sel-b3-2-04/
· register fnma-sel-b3-2-04 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.