Desktop Underwriter DU
Fannie Mae's automated underwriting system is known as a Desktop Underwriter. It is an automated system that has built in functionality to determine quickly whether the borrower meets criteria of Fannie Mae's underwriting guidelines.
The Desktop Underwriter DU conducts an analysis of the borrowers provided information on the Uniform Residential Loan Application. It calculates the eligibility of the borrower based upon the Income, Assets, Liabilities, Credit Score, Debt to Income Ratio (DTI) and other financial aspects of the loan applicant derived from the Uniform Residential Loan Application (1003). The desktop underwriter is also integrated with several other third party programs to speed up the approval and processing of your home loan.
Freddie Mac's Underwriting system is known as a "Loan Prospector" or LP.
Related Topics: What is Fannie Mae Uniform Residential Loan Application What is a Credit Score What is Debt to Income Ratio and how is DTI calculated
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