After delaying an update to its automated underwriting system that will accommodate non-traditional credit, the Federal National Mortgage Association has taken it live.
Fannie Mae disclosed in June that the planned June 25 release date for Desktop Underwriter Version 10.0 would be delayed to ensure a successful implementation.
DU 10.0 utilizes trended credit data to provide an enhanced credit risk assessment and new automated underwriting capabilities for applicants without traditional credit.
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From:: Financing