Fannie Mae Introduces DU Enhancements to Help Underserved Borrowers Access Credit
Fannie Mae recently announced innovative enhancements to its Single-Family automated underwriting system, Desktop Underwriter ® (DU®), designed to responsibly expand eligibility and further simplify the borrower process for loans where homebuyers do not have a credit score. The changes will help historically underserved borrowers access credit and further support the company's commitment to serving renters and homeowners in an equitable and sustainable way.
During the weekend of December 10, 2022, Fannie Mae will implement an update to DU Version 11.0 that will help lenders qualify more loans where no borrower has a credit score. The new enhancements will:
- Expand the eligibility criteria for loans where no borrower has a credit score.
- Enable the evaluation of a borrower's monthly cash flow over a 12-month period to potentially enhance their credit risk assessment for loans where no borrower has a credit score.
Loans without a credit score are identified with credit scores of 9999 in Single-Family MBS disclosures and blank in our Single-Family CRT disclosures.
- For additional information please review the DU Release Notes and the Press Release.
For questions, please contact the Fannie Mae Investor Help line at 1-800-232-6643, Option 3, or by email.