In conjunction with updates being made to the Federal National Mortgage Association’s automated underwriting system, Genworth Mortgage Insurance is making changes of its own.
Loans with nontraditional credit that receive an approve/eligible recommendation from Fannie Mae’s Desktop Underwriter will be eligible for delivery on a delegated or non-delegated basis.
But the Raleigh, North Carolina-based firm noted that loans which don’t receive an approve/eligible recommendation will still need to be manually underwritten based on standard guidelines.
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From:: Financing