What is the process for exercising the DU Refi Plus property fieldwork waiver, and is there a fee associated?
To exercise the DU Refi Plus property fieldwork waiver, the lender must deliver the loan to Fannie Mae with SFC 807 and the applicable DU casefile ID. A fee of $75 will be charged to the lender for each exercised waiver. When the loan is entered in the Loan Delivery system with SFC 807, the system will verify that the latest DU submission of the loan casefile includes the DU Refi Plus property fieldwork waiver message. NOTE: The fee associated with exercising a property fieldwork waiver is a secondary market delivery fee that is assessed in connection with the delivery of the loan to Fannie Mae, and is not a “settlement charge” of the type that is typically charged to the borrower and disclosed on the HUD-1. To the extent that a lender, on advice from its legal counsel, decides to recover the costs of this or any other secondary market charge by including it in an existing settlement charge or creating a new settlement charge, we would expect that settlement charge to be disclosed on t
Related Questions
- If a loan casefile receives an offer for the DU Refi Plus property fieldwork waiver, are there situations in which the lender would still need to obtain an appraisal?
- How does a lender know if a DU Refi Plus property fieldwork waiver is offered on a loan casefile?
- Does the DU Refi Plus property fieldwork waiver offer expire?
