Fannie Offers New Version of DU

Fannie Mae has announced the release of the latest version of its Desktop Underwriter automated loan origination and underwriting system.With DU 4.3, lenders can offer investor loans with loan-to-value ratios of up to 90%, fixed- and adjustable-rate cooperative share loans, exterior-only property inspections, and loan limits for conforming loans to $240,000. Currently, more than 750 lenders use DU to process more than 30,000 loan submissions a day. In 1998, lenders will use the system to underwrite more than two million loans. Fannie Mae's website address is http://www.fanniemae.com.