DU is an abbreviation that is most frequently used to stand for the desktop underwriter. There are so many terms that are used for desktop underwriter; you can find some of them by searching online at the drop of a hat.
A desktop underwriter is mainly used for desktop underwriting. In fact, it is an automated program that lender uses to assess the loan risks. A desktop underwriter is being broadly used by loan originators for so many good reasons.
With the help of this automated program, a lender can assess whether or not they should have to qualify a borrower. Well, a desktop underwriter is used in more than one way, but most lenders use it through Fannie Mae Guidelines.
The way they use it you do, too. Almost every lender needs it for a conventional loan. A desktop underwriter is used worldwide and is a proven tool in the loan industry for so many good reasons. To your amazement, it is also used for other purposes. When talking about FHA loans, you will need a desktop underwriter as well. …