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New rules for Fannie Mae underwriting system

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How Your Credit Card Can Keep You From Buying a Home

New changes coming to Fannie Mae’s automated underwriting system next month could have prospective homebuyers rethinking how they pay their credit card bills. Here’s why.

Lenders generally use Fannie Mae’s automated underwriting system for every single mortgage loan sold in the secondary mortgage market. This system has always reviewed the mortgage applicant’s credit history, credit score, debt-to-income ratio, reserves (a fancy term for savings) and occupancy in order to determine whether they should be approved for the loan.

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