Fannie Tweaks DU to Improve Affordable Housing Underwriting Recommendations
April 21, 2006
Beginning next week, Fannie Mae is adjusting its automated underwriting system so it can more readily acquire loans that meet tougher new affordable housing goals that went into effect in 2005. The changes in Desktop Underwriter focus on how the system reports the results of its analysis for certain loans to borrowers earning up to the median income for their area under affordable housing rules prescribed by the Department of Housing and Urban Development. In…