Fannie Mae Delays Implementation of DU Release 10

June 14, 2016

Fannie Mae said late Friday that it would delay release of its Version 10.0 of Desktop Underwriter, citing the need to conduct more testing.

In a statement Friday, Fannie Mae said it would postpone its June 25 release of DU Version 10.0. The text of the statemente appears below:

“”Fannie Mae is committed to delivering the best technology solutions to our customers without sacrificing quality, and we are committed to earning their trust every day. We decided to delay the scheduled update to Desktop Underwriter (DU) to ensure certainty and stability with the system and allow customers ample time to fully test and transition. The enhanced DU will offer industry leading capabilities such as use of trended data in credit risk assessment and automated underwriting for borrowers with no traditional credit to expand access to mortgage financing.”

In an email to its clients, Fannie Mae said it “experienced issues with the testing environment and decided it would be prudent to delay the release. We also heard feedback that some of our customers could use a little more time for this implementation.” It said a new date for the release will be determined.

Version 10.0, announced in February and updated on June 10 (https://www.fanniemae.com/content/release_notes/du-do-release-notes-06252016.pdf), announced several key changes to DU, including:

–Updated DU Risk Assessment

–Underwriting Borrowers without Traditional Credit

–Policy Changes for Borrowers with Multiple Financed Properties

–HomeReady Mortgage Message Updates

–Updates to Align with the Selling Guide

–Retirement of DU Version 9.2.