FNMA Streamlined 1003

Use the Fannie Mae Streamlined 1003 form to summarize the information required for a Fannie Mae Desktop Originator (DO) submission. You can use this form in place of the 1003 application.

To Complete the FNMA Streamlined 1003:

  1. To complete sections I through X, refer to the instructions for the 1003 application.

  2. The Fannie Mae Additional Data section provides information needed by the MORNETPlus loan processing system. Key fields are described below:

    • Agency Case #:Closed The tracking number assigned to a loan by the CHUMS system. This Agency Case # field is located at the top of the FNMA Streamlined 1003 form.

    • MORNETPlus Case File ID #:Closed Assigned by the MORNETPlus system when you submit a Fannie Mae DO loan.

    • Repayment Type Code:Closed The loan's repayment type: No Negative Amortization, Scheduled Amortization, Interest Only, Possible Negative Amortization, or Scheduled Negative Amortization.

    • Loan Documentation Type Code:Closed The type of documentation package being sent with the application.

    • ARM Index Type:Closed The basis for the rate of the ARM loan.

    • Metropolitan Statistical Area or County:Closed The 5-digit MSA/MD code (or county) in which the subject property is located. The information is used to determine the FHA maximum mortgage amount.

    • Fannie Mae's Community Lending Product:Closed If you selected the Community Lending checkbox, select a program from this list.

    • CAIVRS #s:Closed Assigned by HUD's Credit Alert Interactive Voice Response System. The system checks the borrower's outstanding federal obligations.

    • Section of the Act:Closed The section of the National Housing Act under which the loan is being underwritten.

    • MIP Refund:Closed On a refinance loan, the amount of previously paid MIP to be refunded to the borrower. If the refund amount exceeds the new upfront MIP, type the amount of the new upfront MIP.

    • Lender and Sponsor Identifiers:Closed Identification codes assigned by the FHA.

    • Mortgage Credit:Closed The monthly tax credit the borrower receives for mortgage interest on the current residence.

    • Seller Concessions:Closed The dollar amount of seller concessions that exceed 6% maximum as defined by HUD policy. The purchase price will be reduced by the amount entered in this field.