Overview

To access the FNMA Desktop Underwriter video, select FNMA Desktop Underwriter Interface.

What is the Fannie Mae Desktop Underwriter Interface?

The Wolters Kluwer Fannie Mae Desktop Underwriter interface delivers automated underwriting services between ComplianceOne and Desktop Underwriter so a lender can originate loans in ComplianceOne with terms and conditions that adhere to the Fannie Mae's conditions required for purchasing the loans after consummation.

The interface provides the following functions:

  • Users can send required loan information from ComplianceOne to Desktop Underwriter to initiate the automated underwriting services (AUS).

  • Users receive and can review automated underwriting results from Desktop Underwriter in ComplianceOne in the form of one-to-many HTML reports.

  • ComplianceOne data (TXN) is transformed to the applicable Desktop Underwriter required data format (MISMO 3.4 for the new Loan Product Advisor system or MISMO v2.4 for the Loan Product Advisor legacy system.) for using the new URLA.

What is a typical ComplianceOne user workflow when using the Fannie Mae Desktop Underwriter System?

The following diagram summarizes the user workflow between ComplianceOne, the Wolters Kluwer Fannie Mae Desktop Underwriter interface and the Fannie Mae Desktop Underwriter Service.

The Fannie Mae Desktop Underwriter new or legacy system receives the required data set for a specific transaction from ComplianceOne that is used to perform underwriting services for the request. The user begins a new transaction in ComplianceOne, enters minimum party data, and then requests credit reporting services from an available ComplianceOne partner. The user enters additional party data such as HMDA demographic, product, collateral, and loan terms information that is sent in the automated underwriting service request and populated on the Uniform Residential Loan Application (URLA) document also known as the Fannie Mae 1003/Freddie Mac 64.

The Wolters Kluwer Desktop Underwriter, acting as the intermediary, receives the automated underwriting request with the existing data from ComplianceOne including data that indicates the URLA version (existing or new). Additional data, including information about service providers used for asset and income verifications, can be entered before submitting the request. After the request and data are submitted, the interface passes the service request and data to the applicable Fannie Mae Desktop Underwriter system. The Desktop Underwriter system saves and validates the loan data, performs requested services, and returns HTML feedback results to the interface in an HTML report format for subsequent viewing by the user.

After viewing the Desktop Underwriter findings, the Desktop Underwriter interface returns data and the user to ComplianceOne.