Selling Guide

Published December 16, 2020

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Is there a payment shock policy for fixed-rate mortgages?

Desktop Underwriter (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. 

The non-credit risk factors evaluated by DU include: the borrower’s equity and LTV ratio, liquid reserves, loan purpose, loan term, loan amortization type, occupancy type, debt-to-income ratio, property type, co-borrowers, and self-employment. 

For additional information, see B3-2-03, Risk Factors Evaluated by DU.

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