Fannie Mae Looks To Help Renters Gain Mortgage Eligibility

National Mortgage Professional, Aug. 11, 2021–David Krechevsky
Beginning Sept. 18, Fannie Mae’s Desktop Underwriter (DU) will enable single-family lenders — with permission from mortgage applicants — to automatically identify recurring rent payments in the applicant’s bank statement data to deliver a more inclusive credit assessment. For qualified renters who may have limited credit history but a strong rent payment history, Fannie Mae’s DU enhancement creates new opportunities for homeownership while promoting safe and sound lending.