A new option in Desktop Underwriter allows lenders to pre-qualify borrowers with a single soft pull credit file. However, a hard pull tri-merge credit report will still be required with the actual loan application.

Freddie clarifies how servicers should handle COVID-19 flex modifications for borrowers who recently became delinquent. Fannie announces a tool to compute the monthly income of self-employed borrowers.

At FHFA’s direction, the GSEs have been working to ensure lenders can identify condo projects that are ineligible due to deferred maintenance or characteristics like excess commercial space or investor concentration.

Overall deliveries to the GSEs fell 11.0% in October and were down 51.2% year-to-date compared to 2022. That’s largely due to the decline in refis, which are off 85% compared to the first 10 months of last year. (Includes two data tables.)

Fannie and Freddie have updated rules around employment contracts, shared appreciation and fluctuating income.

Declining volumes at large sellers in the third quarter shifted market share to small shops. United Wholesale Mortgage remained the top GSE loan seller during the quarter. (Includes two data charts.)

Both Fannie Mae and Freddie Mac have eased the rules that limit the use of rental income to qualify for a mortgage.

Market dynamics tied to the pandemic cut nonperforming loan sales at the GSEs by more than 66%. Fannie Mae accounted for almost all of the sales.

The online application, DPA One, allows lenders to find and match up to 400 downpayment assistance programs with borrowers who need help with closing costs.

A proposed new rule expanding the GSEs’ ability to purchase loans on properties with private transfer fee covenants should encourage more engagement in shared-equity programs.