April 16, 2018

Plaid Assets and Day 1 Certainty: a win-win solution for digital mortgage

Baker Shogry & Eric Showen

Updated on October 12, 2018

Today, we’re thrilled to announce that our Assets product is out of beta and Plaid is officially approved to supply asset verification reports to Fannie Mae as part of their Day 1 Certainty initiative. This means that lenders can embed Plaid directly into their application experience and provide borrowers with a fast, seamless experience, reduce the time it takes a loan to close, and have peace of mind offered by Fannie Mae’s protection against repurchase for key loan components. It’s a win-win solution.

Day 1 Certainty

Day 1 Certainty is an initiative that leverages source data to provide better, lower-risk decisioning for lenders with Fannie Mae as the investor. Loans that are underwritten through Desktop Underwriter® (DU®) and have loan components validated through the DU validation service, part of Day 1 Certainty, get relief from certain reps and warrants – the risk of having to buy back loans in the event a defect is discovered. Additionally, Fannie Mae has seen Day 1 Certainty reduce application-to-close time by 17 percent on average.

Streamline experiences for lending

Using Plaid, borrowers can now share with lenders the data they need, directly from the source, including:

  • Bank account, transaction, and bank account owner information from multiple accounts and institutions in a single, standardized JSON report delivered via API

  • An auditable PDF version of the same information, also via API

  • The ability to permission secondary investors like Fannie Mae to securely retrieve the same data directly from Plaid, enabling programs like Day 1 Certainty

What's next

While the public launch of our Assets product and Day 1 Certainty are exciting milestones, our journey in mortgage is just getting started. We look forward to providing the industry with solutions that better serve borrower needs across the loan cycle, and building more partnerships with leaders like Fannie Mae to deliver win-win solutions that move the industry forward.

If you’re interested in learning more about our work in mortgage, reach out to us at