Fannie Mae streamlines U.S. mortgage underwriting

screen-shot-2016-10-24-at-7-22-11-pmReuters

Fannie Mae said on Monday it has launched a program to streamline its underwriting on mortgages for some borrowers that uses electronic data instead of physical proof of their income, assets and employment.

The U.S. government mortgage agency said the “Day 1 Certainty” program would also offer relief from representation and warranty for the appraised value of a home and a waiver of its property inspection requirement for many mortgage refinancings.

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