What does DU mean in OCCUPATION & POSITIONS
Desktop Underwriter (DU) is an automated underwriting system created and maintained by Fannie Mae for the purpose of evaluating mortgage loans for their overall acceptability. It allows lenders to submit loans to Fannie Mae for automated underwriting approval and provide a reliable appraisal with certain conditions.
DU meaning in Occupation & Positions in Business
DU mostly used in an acronym Occupation & Positions in Category Business that means Desktop Underwriter
Shorthand: DU,
Full Form: Desktop Underwriter
For more information of "Desktop Underwriter", see the section below.
Essential Questions and Answers on Desktop Underwriter in "BUSINESS»POSITIONS"
What is Desktop Underwriter (DU)?
Desktop Underwriter (DU) is an automated underwriting system created and maintained by Fannie Mae for the purpose of evaluating mortgage loans for their overall acceptability.
Can DU be used to obtain an appraisal?
Yes, it allows lenders to submit loan applications to Fannie Mae in order to receive an automated appraisal.
Is DU a reliable source of evaluation?
Yes, DU provides reliable evaluations based on various conditions set forth by Fannie Mae.
Is there a fee associated with using DU?
Depending on the lender, there may or may not be a fee associated with using DU. It's best to consult your lender for more information about fees associated with DU services.
Does DU affect the terms of a loan?
In certain cases, yes, but it is ultimately up to the lender whether or not DU results will affect the terms and conditions of the loan.
Final Words:
Desktop Underwriter (DU) offers lenders a valuable tool in evaluating mortgage loans according to Fannie Mae standards. By submitting mortgages through this service, lenders can quickly assess acceptability while obtaining appraisals that meet necessary requirements.
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