Feature Enhancements in Version 21.4
Critical Patch 1

This section discusses the updates and enhancements to existing forms, features, services, or settings that are provided in this release.

Fannie Mae DU Eligibility

Fannie Mae has updated the credit score used by DU in its eligibility assessment to support homeownership opportunities for more underserved borrowers. For most loans with multiple borrowers, DU will no longer use the representative credit score to confirm mortgage loans comply with their minimum 620 credit score requirement. Instead, DU will use an average median credit score.

For more information on this change, refer to the Fannie Mae SEL-2021-08 announcement.

A CreditAvg field has been added to the loan record.

The Fannie Mae eligibility assessment in EPPS will be updated on February 25, 2022.

EPPS-38328

A CreditAvg expression has been added to the Condition Definition and Matrix Definition pages. For the condition definition, the value will be populated from the loan record. For the matrix definition, the value will be compared to the one in the loan record.

EPPS-38329, EPPS-38330

The Average Representative Credit Score (field ID 4752) has been added to the ICE Mortgage Technology Partner Network to be passed from Encompass to EPPS. If a credit score is added to field ID 4752, that value will be stored in the CreditAvg field in the loan record.

EPPS-38331

The CreditAvg element has been added to the GetLoanPrograms and eligibility SOAP services.

EPPS-38513

 

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