Selling Guide

Published April 07, 2021

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What are general lender requirements when underwriting with DU?

General Requirements for Lenders

When underwriting loans with DU, the lender must:

  • employ prudent underwriting judgment in assessing whether a loan casefile should be approved and delivered to Fannie Mae;
  • confirm the accuracy of the data it submits, making sure that it did not fail to submit any data that might have affected the DU recommendation had it been known;
  • ensure that the loan complies with all of the verification messages and approval conditions specified in the DU Underwriting Findings report;
  • apply due diligence when reviewing the documentation in the loan file;
  • review the credit report to confirm that the data that DU evaluated with respect to the borrower’s credit history was accurate and complete;
  • determine if there is any potentially derogatory or contradictory information that is not part of the data analyzed by DU; and
  • take action when erroneous data in the credit report or contradictory or derogatory information in the loan file would justify additional investigation or would provide grounds for a decision that is different from the recommendation that DU delivered.

For example, if a foreclosure was reported in the credit report but was not detected by DU (that is, it was not referenced in any verification messages), the lender must determine if the loan complies with the applicable guidelines (see B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit).

See the Desktop Underwriter & Desktop Originator Learning Center for a number of helpful resources. 

For additional information, see B3-2-01, General Information on DU.

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