Fannie Mae announced today that it is immediately eliminating fees for Desktop Underwriter, its automated mortgage underwriting system, as part of a broader effort to streamline mortgage origination. As part of the announcement, Fannie also said it will improve loan-level data integrity capabilities in its EarlyCheck application starting this fall and will unveil a new loan delivery platform in late 2015.
“We want to continue to provide value to our lenders and we don’t want technology fees to get in the way of lenders using our technology to its full potential,” said Fannie Mae EVP Andrew Bon Salle. Desktop Underwriter will join other Fannie Mae platforms that are free to lenders, including Collateral Underwriter, EarlyCheck and Servicing Management Default Underwriter. Through its Corporation for American Banking subsidiary, ABA endorses Fannie Mae’s secondary market options.