Fannie Mae announced today that starting April 19^th they are going to require additional verification of the social security number on files that are deemed “Potential Red Flag”.  The verification of social security numbers must be a direct validation from the Social Security Administration’s database such as the Consent Based Social Security Number Verification (CBSV) Program.  Veri-tax is an authorize agent of the CBSV Program.

The specific SSN Verification Requirements are:

Social Security Number and Occupancy Verification Requirements

Updates to Social Security Number (SSN) Verification Requirements

The Potential Red Flag messages that are issued when a SSN provided on the loan application appears to be invalid will be updated to require additional verification to confirm the accuracy of the SSN, and will be changed to Verification messages. These messages will now specify the following verification requirements:

…The SSN accuracy must be confirmed, and if incorrect, the SSN must be updated and the loan casefile resubmitted to DU. If the SSN is determined to be correct, it must be verified directly with the SSA (direct validation by a third party is acceptable), and the loan must be delivered with SFC 162. If the SSN cannot be validated with the SSA, the loan is not eligible for delivery to Fannie Mae.

For a copy of the full Fannie Mae notice please click here:

https://www.efanniemae.com/sf/guides/duguides/pdf/current/rndodu80aprupd.pdf