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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
Housing News
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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 i... (read more)
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Housing News
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Most of the accommodations that have been allowed lenders and borrowers by the Federal Housing Finance Agency (FHFA) due to the COVID-19 pandemic were modified or extended this past week. FHFA, the regulator and conservator of the GSEs Fannie Mae and... (read more)
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Housing News
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A high percentage of those who told the National Association of Home Builders (NAHB) late last year that they were thinking of buying a home have now turned thought into action. Rose Quint writes in the NAHB Eye on Housing blog that 15 percent of tho... (read more)
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Mortgage Rate Watch
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Mortgage rates haven't been moving much recently, but they've logged enough small victories to make it back to the lower levels seen on February 1st . Depending on the specific scenario and the lender, a quoted rate may or may not be visibly differen... (read more)
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Rob Chrisman
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I’ve never set foot on a Lear Jet, but was not excited to hear the iconic product ceasing production. Freddie Mac’s 4 th quarter results are pretty exciting. I was very excited that Chrisman LLC was voted the #1 Workplace in the “Fr... (read more)
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MBS Commentary
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Friendly Bounce May Already Have Run Its Course
Friendly bounces after strong selling sprees are slightly more likely to play out over 2-day time frames. That was the risk heading into today after Tuesd... (read more)
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