The introduction of the new First-Generation Homebuyer Certification (Fannie Mae/Freddie Mac Form 1109) was recently announced by Fannie Mae and Freddie Mac. Docutech has added the First-Generation Homebuyer Certification to its generic document library as Cx27698.
Cx27698 will print under the following conditions:
- First-Generation Homebuyer Loan Indicator (188704) = Yes
- Lien Position (1041) = First Lien
- Occupancy (1161) = Primary Residence
- Base Type (2274) = Conventional
- Loan Purpose (5991) = Purchase
- Document Package Type (18215) = Initial Disclosure
“First-Generation Homebuyer [x] Qualification Type” fields have been created for qualification type with three related options:
- No Borrower Parent has had an ownership interest in a property in the last 3 years (1)
- Borrower aged out of foster care (2)
- Borrower became emancipated (3)
Fields have also been created for the homebuyers’ parents’ names and their addresses:
- Borrower [x] Parent [y] Name
- Borrower [x] Parent [y] Street Address
- Borrower [x] Parent [y] City
- Borrower [x] Parent [y] State
- Borrower [x] Parent [y] Zip Code
- Borrower [x] Parent [y] Country
These changes are available for testing on Stage & Stage 2 servers and will take effect on August 3, 2024. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
LEG-2124
DR-151571
The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third-party should consult with an attorney prior to embarking upon any specific course of action.