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Quality Initiative Launching

Fannie Mae logo  Lender Letter LL-2010-03, An Introduction to Fannie Mae's Loan Quality Initiative

Fannie Mae has issued the following Lender Letter:

  • Lender Letter LL-2010-03

An Introduction to Fannie Mae's Loan Quality Initiative, provides advance notice of upcoming changes to policies, business processes, and tools to support delivery data on the loans delivered to Fannie Mae that is complete, accurate, and fully reflective of the actual terms of the mortgage, as well as aligned with Fannie Mae policies and standards. Fannie Mae conducted an extensive analysis to determine the primary drivers of repurchase requests and is launching the Loan Quality Initiative (LQI) to identify and implement policy, process, and technology enhancements to improve the compliance with underwriting and eligibility guidelines and mitigate repurchase risk. 

Over the next few months, Fannie Mae will release several Selling and Servicing Guide announcements and release notes (Loan Delivery and Desktop Underwriter®) that will describe the specific LQI changes to help familiarize lenders with the changes that are coming in order to facilitate lender planning and allocation of resources for the implementation.

We will issue a Selling Guide Announcement and Update on Tuesday, March 2 to provide details on several changes previewed in the Lender Letter. Please note that the contents of that update related to the LQI will be only a subset of the changes described in the Lender Letter.

For more information please see the Loan Quality Initiative page on eFannieMae.com, which includes a number of resources, including FAQs, and a Loan Quality Initiative summary of the changes, key dates, and resources.  

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