Fannie Waives Fees For Desktop Underwriter

Posted by Patrick Barnard on June 24, 2015 No Comments
Categories : Residential Mortgage

Following in the footsteps of sister company Freddie Mac, Fannie Mae has eliminated the fees for its Desktop Underwriter automated underwriting system and Desktop Originator tool.

In addition, the government-sponsored enterprise is enhancing its EarlyCheck loan verification tool and will soon introduce a new loan delivery system.

Fannie Mae says it is making these changes to help its customers originate mortgages with increased certainty, efficiency and lower costs.

The enhancements to EarlyCheck include additional loan-level data integrity capabilities to help lenders have confidence that the loans they deliver have accurate and complete data.

These updates will align with the data standards in Fannie Mae's Loan Delivery tool, the company reports.

Fannie Mae says it will soon be adding other enhancements to EarlyCheck, including loan eligibility rules, so that lenders have greater certainty that the mortgages they deliver meet Fannie Mae's standards.

Fannie Mae is also rolling out a more intuitive and easier-to-navigate loan delivery interface. The new interface will sport enhanced reporting capabilities and improved delivery edit messaging, the company says. This, in turn, will help lenders deliver loans more efficiently and with greater transparency and certainty.

The new loan delivery system is expected to be available later this year.

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