Unlocking Opportunities: DU Version 11.1 November Update Delivers Real Estate Advancements

In the ever-evolving world of real estate, staying updated with the latest tools and technologies is essential for professionals looking to provide top-notch services to their clients. Fannie Mae's Desktop Underwriter (DU) Version 11.1 Nov. Update, set to roll out during the weekend of Nov. 18, 2023, brings a bouquet of exciting changes and enhancements. In this blog post, we'll delve into the remarkable transformations and improvements tailored to benefit realtors and real estate professionals. From expanded LTV ratios to retirement of Social Security number messages, this update is designed to make your professional life smoother and more efficient.

Expanding Opportunities:

• The DU Version 11.1 Nov. Update raises LTV ratios to 95% for two- to four-unit principal residence purchases and limited cash-out transactions. This expansion opens doors to affordable rental housing, providing real estate professionals with more opportunities to serve their clients effectively.

Simplifying Energy Loans: 

• DU now identifies HomeStyle Energy loan casefiles with ease. This simplifies the financing of energy-related improvements, making it a breeze for real estate professionals to guide their clients through the application process.

Streamlining SSN Messages: 

• SSN message retirement brings a smoother SSN verification process and aligns real estate transactions with the latest developments in SSN issuance.

Enhancing Liability Payment Clarity: 

• The new indicator for disclosed liability payments, including taxes and insurance, ensures clarity in assessing property financials. This enhances trust and accuracy in real estate transactions.

Staying Aligned with the Selling Guide: 

• The DU Version 11.1 Nov. Update ensures compliance with industry standards and the Selling Guide. Real estate professionals can navigate transactions with confidence, thanks to these alignment changes.
  

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November Update Cheat Sheet Now!

Click here to get your comprehensive guide on the DU Version 11.1 Nov. Update.

It's your shortcut to mastering the latest enhancements and staying ahead in the world of real estate.

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Here's Another Update That's Worth Knowing:

The Federal Housing Administration (FHA) eliminates the Mortgage Credit Reject (MCR) screen.

 

This pivotal change means that if your client faced a prior mortgage application denial, they now possess the confidence to embark on a fresh journey toward homeownership by seeking an FHA loan through an alternative lender. Discover how this transformative move is set to empower countless individuals in their pursuit of the American dream.

 

 

 

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