RMG NEWS : Fannie Mae Updates 1009 Loan Application


Fannie MaeFannie Mae (FNMA) has updated its reverse mortgage loan application (1009).

The GSE updated the 1009 to comply with the Federal Housing Finance Agency (FHFA), and the Federal Housing Administration (FHA) requests to capture additional data during the loan origination/application process and loan delivery.

According to FNMA, the document has been updated to support loan originator ID and origination company ID.  The updated 1009 however, does include additional questions.

FNMA started supporting new data requirements in July 2009 and is now requiring that lenders use the new form as of July 1, 2010.


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