By Jann Swanson
Posted To: MND NewsWire
As part of an upgrade to its Desktop Underwriter (DU) that will be issued over the December 8 weekend, Fannie Mae says there will be some adjustments to the credit risk assessment functions. The company says the changes are part of prudent risk management and are meant to account for 2018 market conditions including rising interest rates, waning refinances, and higher loan-to-value (LTV) lending. The announcement notes that the new version, DU 10.3, is intended to help the company’s customers serve their borrowers in a manner that is reflective of current market realities. Fannie may says the new version will continue to analyze each loan casefile using variables that have shown to be predictive of mortgage delinquency. It will also, at a time when lending volume is expected to decline, address…(read more)
Via:: Key Changes For Fannie Mae’s Desktop Underwriter Coming in Dec
