Fannie Mae is launching a new feature in its automated underwriting system to incorporate consumers’ rent payments in the mortgage credit evaluation process. Beginning September 18, 2021, Fannie Mae’s Desktop Underwriter (DU) will enable single-family lenders – with permission from mortgage applicants – to automatically identify recurring rent payments in the applicant’s bank statement data to deliver a more inclusive credit assessment.
For qualified renters who may have limited credit history but a