Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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DU Version 10.3 Release Notes - (04/11/2020)

Desktop Underwriter/Desktop Originator Release Notes 

April 6, 2020

DU Version 10.3 April Update

During the weekend of April 11, 2020, Fannie Mae implemented the updates below to Desktop Underwriter (DU) Version 10.3. 


Risk and Eligibility Assessment

In response to changing market conditions and to support sustainable homeownership, we are updating the DU risk and eligibility assessments. These changes are intended to help Fannie Mae’s customers better manage credit risk in the current market and provide sustainable options to borrowers. It is expected that these changes will result in a modest reduction in loan casefiles with high-risk factors receiving an Approve/Eligible recommendation.  

These changes will only apply to DU Version 10.3 loan casefiles created on or after April 12, 2020.

Identification of Fannie Mae Owned Loans

Fannie Mae Lender Letter LL-2020-04 specified temporary flexibilities to our appraisal inspection and report requirements that lenders may apply to limited cash-out refinance transactions when the loan being refinanced is owned by Fannie Mae.  To assist lenders in applying these flexibilities, DU will issue a new message stating that the borrower's existing loan has been identified by DU as a Fannie Mae loan. This message will be issued on limited cash-out refinance loan casefiles when DU finds an active Fannie Mae first mortgage loan for the subject property address, and also confirms that the Social Security number (SSN) of at least one of the borrowers on the loan casefile matches one of the SSNs on the existing loan.

This new message will be issued on DU Version 10.3 loan casefiles submitted or resubmitted on or after the weekend of April 11, 2020.

New Message Related to Impact of COVID-19

DU will issue a new message that is issued on all loan casefile reminding lenders to refer to all Fannie Mae Lender Letters related to the “Impact of COVID-19” for additional instructions on temporary policies that may apply to the loan casefile. This new message will be issued on DU Version 10.3 loan casefiles submitted or resubmitted on or after the weekend of April 11, 2020.

For more information about these Release Notes, lenders may contact their Fannie Mae Customer Management Solutions Team, and mortgage brokers should contact their DO sponsoring wholesale lender. For technology considerations, an Integration Impact Memo will be posted on the Technology Integration page. 

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