Posted To: MND NewsWire

Fannie Mae will implement a new version of its Desktop Underwriter (DU) after the weekend of March 13 . Version 11.0 apply to loan casefiles submitted on or after that date, but casefiles created in the previous version. The changes in this release include modifications to DU risk assessment which Fannie Mae says it regularly reviews and updates based on the latest market and loan performance data. The new DU version “will include an updated risk assessment that will finetune DU’s ability to assess risk while fostering homeownership sustainability.” The company said it expects DU 11.0 to yield only minimal change in the overall percentage of loan casefiles receiving an Approve/Eligible recommendation, but each lender’s results may vary depending on their overall mix of business. DU will continue…(read more)

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Published On: February 11, 2021 / Categories: Mortgage News /