Fannie adopts trended credit data in DU.

PositionNEWS ROOM - Brief article

On Sept. 26, Washington, D.C.- based Fannie Mae announced the implementation of version 10.0 of Desktop Underwriter[R] (DU[R]) that will incorporate trended credit data and provide new automated underwriting capabilities to serve borrowers without traditional credit data. The new version of DU will also help borrowers with multiple financed properties.

The new enhancements to DU include ways to assist lenders to more efficiently serve borrowers without a traditional credit history. The change for borrowers without traditional credit will require verification of at least two non-traditional credit sources, and one of the two must be housing-related.

The new version of DU employs trended credit data in making an assessment of the borrower's creditworthiness for a mortgage. This will benefit borrowers who regularly pay off or pay more than the minimum required for certain revolving credit accounts. Those paying off monthly amounts or making more than the minimum payment will be able to increase their likelihood of getting an "Approve" recommendation from DU.

Trended credit data...

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