Fannie Mae to Introduce New Loan Delivery System, Makes DU Free
July 2, 2015
Fannie Mae has done away with its Desktop Underwriter fee to encourage more lenders to take advantage of the tool. The GSE also has plans to introduce a new loan delivery interface in late 2015.Fannie said the new loan platform will provide lenders with “a more intuitive and easier-to-navigate user interface, enhanced reporting capabilities, and improved delivery edit messaging.” Fannie plans to provide guidance to customers on the new system in the coming weeks but said it’s being designed to help lenders deliver loans more efficiently and with greater transparency. Len Israel, president of mortgage banking with Flagstar Bank, said “Flagstar would welcome any new delivery system Fannie may have on tap to streamline processes without sacrificing quality.”