At Cloudvirga, we’re all about reshaping the future of mortgage lending. Today, we're thrilled to announce an exciting new collaboration between Cloudvirga and Fannie Mae to offer an integration with the enhanced Desktop Underwriter's (DU) early assessment features. We think this enhancement is great because it allows lenders to leverage data-driven insights and automation to create a more efficient, transparent, and borrower-friendly mortgage origination process for everyone involved.

In Fannie Mae’s words, one of the key benefits of the feature in context of their entire DU ecosystem is that Early Assessment...

“Provides loan information, the conditional recommendation, and identifies the potential for HomeReady® loan eligibility, value acceptance (appraisal waivers), positive rent payment history eligibility* and asset, income, and employment validation through the DU validation service*, on a conditional basis, in the DU Findings Report.” (*if verification reports are submitted)

This feature enhancement combines the faster - and more economical – single-bureau soft credit pull file and our streamlined application processing features. The result? Lenders can now receive a conditional recommendation, determine homebuyer preparedness, and mortgage options details based on a soft credit pull and quickly move their customers further in the application process. This method is faster, safeguards borrowers’ credit score from hard credit checks, and shields them from any resulting marketing outreach from competitors.

At Fannie Mae, we continue to offer more ways for mortgage lenders to improve the homebuying experience...” “With this latest pre-qualification offering, lenders can receive an early assessment from Desktop Underwriter with a soft credit report, without impacting consumers’ credit scores.

— Peter Skarnulis, Vice President of Single-Family Digital Management Solutions at Fannie Mae

Most borrowers tend to stick with the lender who initially prequalifies them for their mortgage. By making the prequalification process more straightforward and user-friendly, lenders can significantly enhance the customer experience they deliver. This not only gives lenders a competitive advantage but also reduces their customer acquisition costs. Thus, our collaboration is a win-win situation for all parties involved - lenders, brokers, and borrowers… everyone.

The DU early assessment feature is only the most recent component of our partnership with Fannie Mae, and it's available in Cloudvirga's Horizon (Retail Point-of-Sale) and Horizon Wholesale (TPO) platforms at no additional cost. Current Cloudvirga customers can utilize the features immediately! Simply reach out to both your Fannie Mae and Cloudvirga representatives and ask them to enable the functionality - they’ll take it from there.

Fannie Mae has even created a Lender Readiness Checklist for the new Desktop Underwriter (DU) Early Assessment feature. Click here to see Fannie Mae’s article: Better prepare homebuyers with an early assessment in Desktop Underwriter.

The Cloudvirga platforms AUS dashboard with Desktop Underwriter (DU) integration
When it's time to order credit, simply order soft credit from your current provider and then submit to DU.
Fannie Mae's Desktop Underwriter (DU) Early Assessment in DU Findings report
The DU feedback certificate will return a new message when DU is ordered using soft credit.