The Federal National Mortgage Association has disclosed that it is postponing the release up an updated version of its automated underwriting system.
Desktop Underwriter is Fannie Mae’s AUS that it says
provides a comprehensive credit risk assessment to determine if loans meet its eligibility requirements.
The Washington-based secondary mortgage lender previously scheduled the updated release of its AUS — DU Version 10.0 —
for the weekend of June 25.
But
on Friday, Fannie reported that it will postpone the release.
The decision was reportedly made to
ensure a successful implementation.
“As we prepared for the release, we experienced issues with the testing environment and decided it would be prudent to delay the release,” the notice stated. “We are rapidly addressing this issue in order to deliver these new enhancements to our customers to help provide even more certainty and simplicity while expanding access to credit and sustainable homeownership for creditworthy borrowers.”
Fannie noted that it will advise its customers when the new release date is set — providing “ample time to get ready.”
