Answers (5)
Best Answer
- shapiroamg
- Contributions:3136
They are the same system from fanniemae. Loan officer or Mortgage Broker will us the DO (desktop originator) and an underwriter uses DU (desktop underwriter).
- Mortgage Rates, "FreeRateUpdateDOTcom"
- Contributions:12
- Ray Stevens, "Ray Stevens"
- Contributions:460
As stated, they are basically the same. Sometimes a lender's DU overlay can add some slightly stricter guidelines.
You broker should be able to identify potential red flags.
Also, before submission, the broker should get an Approve/Eligible using the lender's DU underwriting platorm.
You broker should be able to identify potential red flags.
Also, before submission, the broker should get an Approve/Eligible using the lender's DU underwriting platorm.
- Bill Boone, "Your Personal Agents"
- Contributions:989
Desktop Underwriter® (DU®) can help automate the loan origination process, take the guesswork out of underwriting, and shave costs and time off your entire workflow. In fact, with DU, lenders can process mortgage loan applications in 15 minutes or less. DU enables all your business channels, including retail, wholesale, correspondent, Internet/call center, and point of sale.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
As Shap said mortgage brokers use DO.
DU is used by direct lenders. ....DO/DU findings ar usually accepted by most wholesale lenders. .... Good question. .... Happy funding, Rudi
DU is used by direct lenders. ....DO/DU findings ar usually accepted by most wholesale lenders. .... Good question. .... Happy funding, Rudi
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