Fannie Mae believes lenders can originate higher-quality loans when they have the right tools to develop a comprehensive, holistic view of the risks associated with each loan. For years lenders have leveraged Desktop Underwriter®/Desktop Originator® to underwrite quality loans with greater certainty. In 2015, they added Collateral Underwriter® to their technology suite to provide the industry with an automated way to assess appraisal quality.
- Desktop Underwriter® (DU®) – Fannie Mae’s industry leading automated underwriting system provides lenders with a comprehensive credit risk assessment, including action-oriented, detailed messages in its Underwriting Findings report. With frequent model updates, DU is responsive to today’s changing market. In addition, DU helps lenders to identify loan casefiles that are potentially eligible for the HomeReady™ mortgage.
- Desktop Originator® (DO®) – a companion system to DU that allows wholesale lenders to expand their reach to third-party originators.
- Collateral Underwriter® (CUTM) – a proprietary appraisal risk assessment application that supports proactive management of appraisal quality. CU provides access to the same market data and analytics used in Fannie Mae’s post-acquisition quality control process. CU’s appraisal feedback enables lenders to address potential issues earlier in the origination process and improve the overall quality of loans. CU also provides comparable sales data, mapping, market trends, public records, and more.
You may already be aware that you do not need to be an approved Fannie Mae seller/servicer to take advantage of these technology solutions. But did you know these applications and tools are widely available at no cost to lenders?
That’s right, even if you are not delivering loans directly to Fannie Mae, you can benefit from these innovative risk management solutions free of charge.
Visit the Fannie Mae Technology Solutions page to learn more about these and other applications and tools. Fannie Mae’s Industry Partner Solutions team stands ready to assist you.