Maximum Principal Reduction Policy
Lender guidelines defining allowable post-closing principal reductions to cure TRID tolerance cures and prevent loan balance defects.
Packaging & Submission Instructions
Originator Guidance: Complete and execute this form prior to upload with the initial loan submission package in the Corva Wholesale Broker Portal or Fannie Mae Desktop Originator.
Ensure all borrower signatures, entity documentation (for LLC or corporate borrowers), and applicable disclosures match the 1003 loan application. For assistance packaging this document, contact the Corva Broker Operations Desk at [email protected].
Form Description & Requirements
Tolerance Cure & Curtailment Rules
Guidelines detailing the maximum principal reduction (curtailment) allowable on closed loan files to cure closing cost tolerance discrepancies without violating secondary market delivery guidelines.