source:
  type: guide
  id: fnma-sel-b3-2-09
  authority: Fannie Mae Selling Guide B3-2-09 — Erroneous Credit Report Data
  description: Fannie Mae Selling Guide B3-2-09 — Erroneous Credit Report Data.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-2-09-full
  canonical_id: fnma-sel-b3-2-09-full
  section: Fannie Mae Selling Guide B3-2-09 — Erroneous Credit Report Data
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-2-09 — Erroneous Credit Report Data
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-2-09, Erroneous Credit Report Data (01/27/2015) Introduction
      This topic contains information on erroneous credit report data, including:
      Erroneous Credit Report Data Merged Credit Reports and the Impact on DU’s Evaluation
      Lender Action Regarding Derogatory Credit Reported in Error Published May 6,
      2026 294 Erroneous Credit Report Data The lender is responsible for ensuring
      that credit report data used by DU in its underwriting analysis is accurate.
      Signiﬁcant, material credit errors in a borrower’s credit report may have a
      negative impact on the underwriting recommendation from DU. When there is documented
      evidence of material erroneous credit data, the underwriter should work with
      the credit repository to correct the data and resubmit the loan caseﬁle to DU
      for underwriting. If there is not enough time to obtain corrected information,
      or if there are extenuating circumstances that contributed to the derogatory
      credit, the lender may manually underwrite the mortgage. If signiﬁcant material
      credit errors in the credit report have had a negative impact on the underwriting
      recommendation from DU resulting in a Refer with Caution recommendation, the
      lender may consider underwriting the loan manually in accordance with this Selling
      Guide, provided that the loan product or transaction otherwise allows for delivery
      of manually underwritten loans. If the loan complies with Fannie Mae’s standard
      eligibility and underwriting guidelines, it must be delivered as a manually
      underwritten loan with SFC 343. Such manually underwritten loans are not eligible
      for DU’s limited waiver of representations and warranties. Merged Credit Reports
      and the Impact on DU’s Evaluation Errors that are the result of the credit merge
      do not typically aﬀect the credit or risk analysis of the loan caseﬁle. DU attempts
      to identify duplicate tradelines, including public record items, that are the
      result of the merge, and ignores duplicate accounts in the credit analysis.
      Public record information is frequently duplicated on the credit report because
      the credit agencies do not attempt to merge or match items of this severe nature.
      A public record item may appear in the credit report three times—once from each
      repository—but the duplication will not aﬀect the risk analysis of the case.
      Lender Action Regarding Derogatory Credit Reported in Error If it is determined
      that signiﬁcant derogatory credit has been reported in error, the lender must
      obtain written documentation that supports the error. The following types of
      written documentation support erroneous information: a supplement to the credit
      report a new mortgage credit report, documentation from the credit provider
      that reported the error. Recent Related Announcements There are no recently
      issued Announcements related to this topic. Published May 6, 2026 295'
  judgment: false
