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What is the 1008 form?

A 1008 is a form that contains all summary data for a mortgage loan in addition to calculated figures such as debt-to-income ratio, income, liability amounts, ect.

What is 1008 document in US mortgage?

Form 1008 by Fannie Mae, also known as the Uniform Underwriting and Transmittal Summary, is often used by lenders to analyze the key summary data of an application, and make underwriting decisions based on that.

Does FNMA require 1008?

Considering the optional nature of the Form 1008, we are no longer requiring lenders to use or implement the updated Form 1008. Lenders may use the updated Form if they so choose for manually underwritten loans.

What is Transmittal Summary mortgage?

Loan Transmittal Summary Forms means the forms related to each Bill of Sale provided to the Seller by the Purchaser and completed by the Seller which list, by Borrower, (i) the Loans subject to the related Bill of Sale and (ii) the outstanding Principal Balance and accrued interest thereof as of the related Cutoff Date ...