In a previous Compliance News alert, Docutech announced upcoming changes to format and future mandatory use of the Supplemental Consumer Information Form (SCIF). The joint announcement by FNMA and FHLMC states that they have mandated the SCIF for the collection of borrower preferred language, applicable homeownership education, and housing counseling details. The GSEs stated that the SCIF is available for use and that “Lenders are invited to begin submitting the updated data in the loan submission files at any time.” The SCIF will be required for new conventional loans sold to Fannie Mae and Freddie Mac with application dates on or after March 1, 2023. The announcement also affirmed that other language versions of the SCIF will be posted at a later date.
Docutech has created the English (Cx23518) and Spanish version (Cx23519) of the Supplemental Consumer Information Form. Because the SCIF is intended to be used in conjunction with the redesigned Uniform Residential Loan Application (Cx20667), the document triggers for the URLA are also required to print the SCIF. This means that Print 1003 Loan Application (Field 99880) must be “Yes”, Print Redesigned 1003 Loan Application (Field 123494) must be “Yes”, AND new field Print Supplemental Consumer Information Form (SCIF) (Field 153076) must also be “Yes”. Clients should map field 153076 as needed when appropriate to trigger the new SCIF documents.
Cx23518 and Cx23519 are now available for testing and will be available for use on Production servers on May 19th, 2022. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.