Updates on Credit Underwriting Rules: Credit Scores; Foreclosures; Mortgage Delinquencies; Authorized Credit Users; Non-Traditional Credit, More

All of the revisions are in conjunction with a new version of DO/DU, Version 7.0, which is being implemented the weekend of May 31, 2008. In this announcement, Fannie Mae is trying to bring manual and DO/DU underwriting in line with each other. (What a novel idea!) There is so much - and since nothing is effective until 6-1-08, I'm making this a 2-part article.

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