Borrowers seeking homes should know that as of Sept. 24, many banks will be scrutinizing more detailed data. Fannie Mae, the government-controlled giant, has revised its risk-assessment software to include an expanded version of a borrower’s report. The reports now include more details about how the borrower has paid bills over the previous two years. Mindy Armstrong, Desktop Underwriter product manager in Fannie Mae’s single-family homes division, said the new information would give them a more nuanced understanding of how a borrower handles and whether they are likely to repay their them. Fannie Mae said its Desktop Underwriter software is used by about 2,000 and more than 10,000 brokers. Fannie Mae backs more than a quarter of new homes, said Guy Cecala, publisher of Inside Finance. Historically, reports used in field included a borrower’s balance, how much of their available they use and whether monthlys are made on time, Armstrong said.
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