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Home » Mortgage Lending in the United States » Fannie Mae’s Desktop Underwriter

Fannie Mae’s Desktop Underwriter

Fannie Mae or the Federal National Mortgage Association is one of the government sponsored private financial organizations in the United States of America that has carved a niche for itself by offering loan and loan guarantees to a number of clients over the years. Founded in the year 1938, Fannie Mae dominated the secondary mortgage market for a number of years since its establishment. Fannie Mae charges guarantee fees for scrutinizing the loans. In return of the credit risk that Fannie Mae assumes they charge handsome guarantee fees. By going through the financial status of the loan borrowers, Fannie May provides the guarantee, which ensures that the lender will get the principal as well as the interest irrespective whether the borrower will actually pay it. Fannie Mae’s Desktop Underwriter has made it possible to facilitate the process of underwriting more quickly.
Over the years, a number of technologies have been utilized by the company that have made their operations much faster. Fannie Mae’s Desktop Underwriter has automated the process of scrutinizing the loan application made by the clients and has thus helped them to issue the guarantee in less amount of time.

It has been found that lenders using the desktop underwriting have been able to process the applications of mortgage loans within few minutes only. The introduction of Fannie Mae’s Desktop Underwriter has made it possible to serve more number of customers than before. Fannie Mae’s Desktop Underwriter has not only saved the time of the borrowers but has also provided better customer service. The operational efficiencies have also tremendously increased with the use of desktop underwriter by Fannie Mae.
 
Mortgage Lending in the United States