October 3, 2008, Newsletter Issue #136: Fannie Mae Partners Offer Automated Underwriting

Tip of the Week

Some lenders offer automated underwriting for home refinancing. Refinance loans may be approved in minutes.

Most lending partners of Fannie Mae, a private company established by the federal government, use what is known as Desktop Underwriter® (DU). With Desktop Underwriters, it may not be necessary to have your property appraised, which will save you time and money.

By visiting the Fannie Mae web site, you can get a complete listing of its lending partners and the loan products offered. Fannie Mae is not a direct lender, instead working with approved lenders across the U.S.

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