WebRefer to the Nontraditional credit section of this matrix for guidance. GUS Refer, Refer with Caution, and manually underwritten files are not eligible for debt ratio exceptions if: 1. There is not one applicant with a validated score using traditional tradelines on the credit report, or 2. The file requires non-traditional credit tradelines. Web1 Any loan casefile that receives a Refer with Caution recommendation from DU does not represent a level of risk that is acceptable to Fannie Mae for DU loans. If the data DU considered was an accurate representation of the borrower’s income, assets, liabilities, and credit profile, the loan is not eligible for delivery to Fannie Mae as a DU loan.
B3-2-11, DU Underwriting Findings Report (09/07/2024) - Fannie Mae
Web2. Okt. 2024 · They're getting refer with caution but otherwise they credit profile looks great as they've all closed houses for more money, on worse credit with less money down. … WebWhen the foreclosure waiting period is the only reason the loan casefile is receiving a Refer with Caution recommendation, DU will issue a message to remind the lender that the Confirmed CR FC Incorrect or Confirmed CR FC EC indicators may be used if the lender is able to confirm the information is inaccurate or due to extenuating circumstances. chinese food in pine bluff
Desktop Underwriter/Desktop Originator Release Notes - Fannie Mae
Web5. Apr. 2024 · If a Chapter 13 bankruptcy was discharged within the last two years, dismissed within the last four years, or filed but neither discharged nor dismissed within … Web4. Apr. 2024 · Fannie Mae’s version of Automated Underwriting System is known as DU and Freddie Mac’s version is known as LP. Findings from the Automated Underwriting System are rendered as approve/eligible, refer/eligible, or refer with caution. Difference Between Manual Underwriting Versus Automated Underwriting Guidelines Is DTI Versus … WebAutomated underwriting (also known as AUS) is used by mortgage lenders to determine whether or not to approve your mortgage application. These automated, computer-generated mortgage loan underwriting decisions are the most common way to get approved for a home mortgage. Automatic Underwriting System. Information from a mortgage loan … grand learning registration