Based on Fannie Mae Seller Guide D1-2-04 and Announcement SEL-2010-01, DocMagic is now offering an Acknowledgment of Right to Request Credit Reports (ARRCR.MSC) that informs the Borrower as follows:

As part of Lender's internal controls and processes to ensure that all of the debts of Borrower(s) incurred or closed up to and concurrent with the closing of the subject mortgage are disclosed on the final loan application and included in the qualification for the subject mortgage loan, Borrower(s) acknowledge(s) that Lender may request Borrower(s)' credit reports, including updated reports, at any time during the lending process, including closing, reviewing or auditing of the loan file. 

Please note that pursuant to the Lender QC Review of Underwriting Decisions (Seller Guide D1-2-06, p. 1067), "it is not necessary to order a new credit report; however, the borrower's qualifying income and assets should be verified and recalculated..."

This optional form (ARRCR.MSC) is available under Forms List.  To add this form to your Predisclosure or other document packages, please contact Customer Service at 800-649-1362.