Fannie Mae and Freddie Mac have begun the preliminary work to update the required data points and format that lenders submit to the government-sponsored enterprises’ respective automated underwriting systems.

The work to update the data standards of Fannie’s Desktop Underwriter and Freddie’s Loan Prospector will coincide with an evaluation and possible update to the Uniform Residential Loan Application, also known as Form 1003, according to representatives from the GSEs, who spoke on an April 15 panel at the Mortgage Bankers Association’s national technology conference in Hollywood, Fla.

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