Last year, FNMA announced revisions to their Form 1008 (Uniform Underwriting and Transmittal Summary), with a mandatory effective date of July 1, 2019. Earlier this year, FNMA announced that they had postponed this mandatory effected date to February 1, 2020. In an email dated today (Subject: Fannie Mae Selling + Servicing News), FNMA announced the following:
“We’re extending the mandatory use date for the revised Form 1008. Lenders may use it immediately but won’t be required to use it on/after Feb. 1, 2020, as previously announced. The GSEs will notify lenders of the new effective date and any additional changes soon.”
We will continue to monitor news on Form 1008 and make any necessary changes to our forms and/or systems, once additional details are announced. Any modifications we make will be announced on our website (https://compliance.docutech.com/).