information from other Fannie Mae published sources. For best results, pose your search like a question. To print the report you are currently viewing, click the PRINT button.
To filter messages, select Day 1 Certainty in the View drop down menu. A borrower who uses revolving accounts conservatively, meaning low revolving credit utilization or regular payoff of revolving balance, is considered lower risk. Note: In the Classic version, if there is more than one loan application, then only the Primary Borrower, and if applicable Co-Borrower, on the first loan application will be listed at the top of the Underwriting Findings report and the Underwriting Analysis report. Research has shown that borrowers whose total monthly expenses are composed primarily of their housing expense may find it more difficult to pay this expense when experiencing an event that would cause financial distress, such as the loss of a job. There may be multiple Underwriting Findings reports for the same loan casefile. Successfully managing newly established accounts, including making payments as agreed, signifies lower risk. Also see below for information about the risk factors DU considers when evaluating loans where no borrower has a credit score.

Purchase transactions represent less risk than refinance transactions. Note:  There may be multiple Underwriting Findings reports for the same loan casefile. In DU’s evaluation, generally, the lower the borrower’s debt-to-income ratio (DTI ratio), the lower the associated risk. Liquid reserves are those financial assets that are available to a borrower after a loan closes. A credit history that includes any significant derogatory credit event is considered high risk. For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. Fannie Mae surveyed senior mortgage executives to better understand lender perspectives on market trends and to identify opportunities to streamline or enhance policy and process requirements in order to more effectively and efficiently manage condo project risks. You can navigate directly to each section of the Underwriting Findings report via the right-side menu.

Ask Poli features exclusive Q&As and more—plus official Selling & Servicing Guide content. To see the Underwriting Analysis Report, click the associated link in the right-side menu. h�b```��,s@����(�q�A�m���n������00H���a��oHz���'f�>��)�p4�wt0Tt Q�:������H��X�����c�����[� Note: You will only see the enhanced HTML version of the DU Underwriter Findings Report in your Loan Origination System (LOS) if your LOS requests the corresponding file type for it, which is 16. This topic contains information on the risk factors evaluated by DU, including: DU considers the following characteristics in the credit report to assess the creditworthiness of borrowers who have traditional credit histories: credit history, delinquent accounts, installment accounts, revolving credit utilization, public records, foreclosures, collection accounts, and inquiries.

Execution, Learning Events, Public Records, Foreclosures, and Collection Accounts, Risk Factors for Loans Where No Borrower Has a Credit Score, B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit, B3-5.4-02, Number and Types of Nontraditional Credit Sources, How to do a hard refresh in Internet Explorer. A borrower who has frequently applied for, or obtained, new or additional credit represents a higher risk. 1032 0 obj <>/Filter/FlateDecode/ID[<6D98140904D67F4699CE9BB4C739C5EC>]/Index[1016 41]/Info 1015 0 R/Length 84/Prev 123255/Root 1017 0 R/Size 1057/Type/XRef/W[1 2 1]>>stream You can move back and forth between the Underwriting Findings report and the Credit report by clicking the links at the top of the page. 1056 0 obj <>stream For example, if you are currently viewing the Findings report and you want to view the credit report, click Credit Report. Trended credit data is used to evaluate the borrower’s ability to manage revolving accounts. Another important factor that DU considers in the risk analysis is the collateral or property type. To see the Underwriting Analysis Report, click the associated link in the right-side menu. Note:  Persistent "Day 1" flags () display next to Day 1 Certainty messages. You can also download the printable 1,200+ page PDF, which include links. The Desktop Underwriter Findings will be displayed. Today, more than ever, mortgage industry professionals need to save time to generate more business. Trademarks of Fannie Mae. Ask Poli. The Summary section, at the top of the Underwriting Findings report, contains the underwriting recommendation, property address, loan-to-value ratio, combined loan-to-value-ratio, and other key loan data. 1016 0 obj <> endobj Research has shown that there is a difference in loan performance based on the manner in which the mortgage amortizes.

The level of risk associated with each property type is as follows, starting with those property types representing the least amount of risk: DU considers the number of borrowers (who have traditional credit) on a mortgage application in its evaluation because, generally, the presence of more than one borrower helps to reduce risk. & Insights, Pricing & For ease of reference, we will generally use the term “DU” to refer to Desktop Originator ® and Desktop Underwriter ® (DO ® /DU ®).. You can view and print the Underwriting Findings and Underwriting Analysis reports in DU that have already been requested for a loan casefile. Guide Resources For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. The Summary section, at the top of the Underwriting Findings report, contains the underwriting recommendation, property address, loan-to-value ratio, combined loan-to-value-ratio, and other key loan data. Owner-occupied transactions represent the least risk, followed by second home transactions, and investment property transactions having the highest risk level. Note: If a loan casefile does not receive an Approve recommendation or if the borrower is unable to meet the DU requirements related to the sources of nontraditional credit required, the lender may manually underwrite and document the loan according to the nontraditional credit guidelines described in this Guide. Research has shown that mortgages to borrowers who choose to finance their mortgages over shorter terms and build up equity in their properties faster generally tend to perform better than mortgages with longer amortization periods. Visit Selling and Servicing Guide Communications and Forms. When you are done reviewing the Underwriting Findings report and Underwriting Analysis report, click the LOAN INFORMATION button to return to the Loan Information screen. Reserves are calculated as the total amount of liquid assets remaining after the loan transaction closes divided by the qualifying payment amount.

In other words, the more equity a borrower has in the property, the lower the risk associated with the borrower’s mortgage loan. Note: The Show Changes function displays message changes that have occurred since the most immediate version of the casefile was submitted through DU. Guide Resources. Guide Resources For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more. feel free to email. The more recent such events occurred, the more adverse the impact is on the credit profile. For construction-to-permanent transactions, DU determines the purpose of refinance based on the amount of cash the borrower is receiving at closing. This feature is only available in reports that have at least two submissions. Selling, Securitizing, and Delivering Loans, Research Click the hyperlink in the Underwriting Recommendation column for the loan casefile. button to return to the Loan Information screen. h�bbd``b`�$V ��@�k9��T�Y �D��9�XǀG4�uH0��t��:@b�q&F�v�y��#���� version of a page. 0 Center, Apps Research has shown that a borrower who makes a large down payment or who has considerable equity in his or her property is less likely to become delinquent on a mortgage loan than a borrower who makes a small down payment or has a small amount of equity in a property. For example, a 30-day late payment that is less than three months old indicates a higher risk than a 30-day late payment that occurred several years ago. A borrower whose revolving credit utilization is high or who has low available revolving credit is considered higher risk. To identify messages that have been added, deleted or changed since your last submission, toggle Show Changes ON at the top left of the page. When evaluating refinance transactions, a limited cash-out refinance transaction represents less risk than a cash-out refinance transaction. Research has shown that mortgages to borrowers with higher amounts of liquid reserves tend to have lower delinquency rates. A payment history that includes bills that are 30 days or more past-due, or a history of paying bills late as evidenced by a number of accounts with late payments, will have a negative impact on the borrower’s credit profile. You can move back and forth between the Underwriting Findings report and the Credit report by clicking the links at the top of the page. More information on these risk factors is provided below. endstream endobj startxref

If you have additional questions, Fannie Mae customers can visit Ask Poli to get Research has shown that self-employed borrowers tend to become delinquent on their mortgages more often than salaried borrowers, when all other risk factors are held constant. DU considers the severity of the delinquencies (30, 60, 90, or more days late), the length of time since the delinquencies, and the number and type of accounts that were not paid as agreed. DU analyzes the results of this evaluation along with the evaluation of the borrower’s credit profile to arrive at the underwriting recommendation for the loan casefile. Lenders should also review their Master Agreement or individual negotiated contracts to determine if other SFCs are required at delivery. Research has shown that a high number of inquiries can indicate a higher degree of risk. If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources. As with a low LTV ratio, DU may consider high amounts of reserves as an offset for other risks that it may identify in the loan application. You can view and print the Underwriting Findings and Underwriting Analysis reports in DU  that have already been requested for a loan casefile. The Underwriting Analysis report appears at the end of the Underwriting Findings. Mae. To print the report you are currently viewing, click the, When you are done reviewing the Underwriting Findings report and Underwriting Analysis report, click the.

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