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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.