A Smarter Mortgage Industry

The consumer credit landscape has changed significantly in recent years, and the impact of a turbulent economy with rapidly evolving consumer behaviors makes risk mitigation more important than ever. Fannie Mae's release of Desktop Underwriter® (DU®) Version 10.0 includes trended credit data from Equifax that will enhance the static snapshot of a consumer’s credit balances with up to 24 months of historical data, such as payment and balance. Additionally, Equifax was selected as a designated vendor to support Fannie Mae's DU® validation service, supplying our industry-leading employment and income verification services via The Work Number® as well as our IRS tax transcript fulfillment service.

"With these dramatic steps, Fannie Mae is helping to make the home mortgage market smarter, safer, and open to more consumers," says Craig Crabtree, General Manager of Equifax Mortgage Services. "Increasing the use of trended data will help improve the evaluation of risk and reward the responsible use of credit. The move towards automation of income and employment verification will help to limit underwriting cycle times by reducing lenders' reliance on applicant-provided W-2s, pay stubs and other income-related documentation. It's a win for both lenders and consumers."

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Fannie Mae DU Version 10.0 Release Notes

“Fannie Mae is helping to make the home mortgage market smarter, safer, and open to more consumers.”

Craig Crabtree, General Manager of Equifax Mortgage Services