Fannie Mae Announces Enhancements To Desktop Underwriter
Fannie Mae announced enhancements to its Desktop Underwriter that will streamline originations for lenders and buyers.
The new capability automates the validation of borrowers’ assets, income, and employment and produces a 12-month report. Bank statements, information about assets, and other data from third-party vendors become available in just one step.
The report can then also be used to consider positive rent payment and cash flow history, a feature that supports borrowers with little or no credit history.
Fannie Mae says lenders can “achieve Day 1 Certainty” when with validated information, potentially increasing loan quality and reducing repurchase risk.
“Fannie Mae is continually focused on modernizing the mortgage finance experience and exploring new ways to help our lenders open more doors…