Consider On-Time Rent Payments and Cashflow
Desktop Underwriter® (DU®) helps you maximize lending opportunities for qualified homebuyers — including those who have been overlooked in the past. You can use an asset report to assess eligibility considerations like on-time rent payments and cashflow.
On-time rent payments
DU can assess on-time rent payment history in either credit reports or asset reports to help you qualify more potential borrowers as part of Fannie Mae's ongoing commitment to make housing more accessible.
Just enter the borrower’s rent payment amount in the loan application. If their rent payment history appears on their credit report, nothing else is required for DU’s assessment. If rent payments are not included in the credit report, you need to order an asset report for rent payments to be considered.
Note: Make sure the rent payment amount listed on the application aligns with the withdrawal amounts in the asset report.
Synergy One Lending
Synergy One Lending used on-time rent payment history to help a first-time homebuyer.
Thrive Mortgage
Thrive Mortgage helps ensure homebuyers’ rent payment history counts toward their mortgage evaluation.
Nations Lending
Nations Lending updated their processes to serve more homebuyers and grow their business.
DU makes it easier for mortgage applicants without significant credit history to access credit while simplifying the underwriting process for lenders.
With the submission of an asset report, DU will assess a borrower’s cashflow by reviewing transaction patterns, balance trends, and other observations over time in their accounts. The asset report can also be used to satisfy the nontraditional credit source documentation requirements described in the Selling Guide.
How it works
Here’s how to get started and submit an asset report in DU.
Step 1
Educate the borrower about the asset verification process — and get their consent to order a report.
Step 3
Enter the Reference ID in Desktop Underwriter.
Step 4
Review the DU Underwriting Findings messages to see if the bank statement data has been considered.
Additional resources
On-time rent payments
Cashflow assessment
Get more out of DU
View user guides, FAQs, and training resources — and get help from our support team.
DU & DO Learning Center
For information on using Desktop Underwriter® and Desktop Originator®, visit the learning center.
DU Validation Service Resource Center
For information on using the DU validation service, visit our specialized resource center.
