Mortgage Info for Homes and Small Business Financing

No Income Verification NIV Investment Property Loans

NIV investment property loans return to the market Remember a decade ago when you could get a mortgage if you were breathing and able to sign loan docs?One of these mortgage types was the stated income loan.  You told the lender your occupation and “stated” your income.  The stated income on the application was never verified.… Continue Reading

NO Credit Score with Automated Underwriting

No credit score! DU Version 10.0 will include the ability to underwrite mortgage loan requests in which no borrowers have a credit score. Besides incorporating Trended Credit Data into the new automated underwriting engine, this version of DU has the ability to approve borrowers who lack any FICO credit score. Lack of Traditional Credit Having… Continue Reading

Desktop Underwriter DU 10.0 and Trended Credit Data

DU 10.0 and trended credit data are back! Fannie Mae recently announced that Desktop Underwriter (DU) Version 10.0 with the incorporation of Trended Credit Data will now be released during the weekend of September 24th. This new announcement comes after their initial push back from an anticipated release during the weekend of June 25th. We… Continue Reading

Trended Credit Data Empowers Creditworthy Borrowers

Trended Credit Data was to roll out with Desktop Underwriter 10.0 during the weekend of June 25th. That didn’t happen. Fannie Mae delayed the new version of the automated underwriting system (AUS) until issues with testing can be sorted out.  Desktop Underwriter 10.0 uses trended credit data in its analysis. What is Trended Credit Data… Continue Reading

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