Fannie Mae and Freddie Mac (the Government Sponsored Enterprises [GSEs]) sent out a reminder that lenders are required to use the updated Supplemental Consumer Information Form (SCIF; Form 1103) and include it in the loan file for conventional loans sold to the GSEs with application dates on or after March 1, 2023. The two standard SCIF documents are:
- Supplemental Consumer Information Form (Cx23518)
- Spanish Translation Aid Supplemental Consumer Information Form (Cx23519)
As announced previously, these SCIF documents print by default when:
- Print 1003 Loan Application (FI 99880) is set to “Yes”;
- Print Redesigned 1003 Loan Application (FI 123494) is set to “Yes”; and
- Print Supplemental Consumer Information Form (SCIF) (FI 153076) is set to “Yes”
The two 1003 fields above determine whether the corresponding standard 1003 Uniform Residential Loan Application – 1/2021 (Cx20667) prints, and are also used to trigger the SCIF by default. Since these two documents have the 1003 indicators in common, the “Print Supplemental Consumer Information Form (SCIF)” indicator is the only document trigger that SCIF-specific mapping logic needs to be applied to.
New Global Mapping
If not already set, “Print Supplemental Consumer Information Form (SCIF)” will be globally standard value mapped to “Yes” for all Conventional loans (based on Loan Type, FI 1066) when “Application Date” (FI 147) is on or after March 1, 2023. If both Print Supplemental Consumer Information Form (SCIF) and the Application Date are not set, Today’s Date (FI 15408) will be used to set the SCIF indicator to “Yes” for Conventional loans on and after March 1, 2023.
Effective Date
These changes will be in effect on March 1, 2023. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
T3S-6370