Fannie Mae: CU Now Integrated With DU

Posted by Patrick Barnard on April 21, 2015 No Comments
Categories : Residential Mortgage

Fannie Mae's Collateral Underwriter (CU) is now integrated with the company's Desktop Underwriter (DU) automated underwriting system, as well as EarlyCheck, the company's pre-delivery loan eligibility and data evaluation tool.

CU is Fannie Mae's new proprietary appraisal analysis application, providing lenders access to analytics as well as underlying appraisal, public records and other data when evaluating the risk on an appraisal. Integration of CU with DU and EarlyCheck will help lenders more effectively manage risk, underwrite strong loans and build their businesses confidently and efficiently, the company claims in a press release.Â

‘This integration is the next step in our efforts to make it easier to work with Fannie Mae by helping lenders to efficiently manage risk and build strong, profitable businesses,’ says Marianne Sullivan, senior vice president for single family business capabilities for Fannie Mae. ‘DU, CU and EarlyCheck are foundational tools for a strong housing finance system going forward.’

Collateral Underwriter was announced by Fannie Mae in October 2014 and became available to lenders beginning January.Â

Fannie Mae reports that as of April nearly 800 lenders had registered to use CU, which includes a risk scoring component.

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