Fannie Mae Eliminates Desktop Underwriter Fee and Further Enhances Its Industry Leading Tools to Give Lenders Greater Certainty and Efficiency
Fannie Mae (FNMA/OTC) announced that it will eliminate fees on its Desktop Underwriter® automated underwriting system and Desktop Originator® tool, enhance its EarlyCheck™ loan verification tool, and soon introduce a new loan delivery system. These changes are designed to help its customers originate mortgages with increased certainty, efficiency and lower costs.
“We continue to strive to have lenders choose Fannie Mae because we provide the most insightful, innovative and effective tools in the industry,” said Andrew Bon Salle, Executive Vice President, Single-Family Business at Fannie Mae. “For years, our technology tools have been the tools of choice for mortgage lenders across the industry. We want to continue to provide value to our lenders and we don’t want technology fees to get in the way of lenders using our technology to its full potential. That is why we have introduced tools such as Collateral Underwriter, EarlyCheck and Servicing Management Default Underwriter at no cost to lenders or servicers, and why today we are also eliminating our DU fee. We will continue to innovate to provide extraordinary value to our partners and help them succeed.”
The company announced the following:
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