Danny Salas

Fannie Mae To Update Their Automated Engines This Weekend

RefiPlus & Home Affordable Refinance

Fannie Mae’s Automated Engines, Desktop Underwriter (DU) and Desktop Originator (DO),  will update to their latest version 8.0, the weekend of April 17, 2010.

The update will be implementing changes to certain criteria that will be required before selling the loan to Fannie Mae, as opposed to warnings or red flags  regarding items to simply just be aware of.

This update will not effect the purchase market too extensively.  Updates to RefiPlus and the new Home Affordable Refinance loans, are the primary reason behind this update.