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Now is the time to purchase if you have the means. Banks are making moves preparing for this hike and nobody can do anything except speculate at this point.
However you can take my advice, buy now or wait another 6 to 10 years for the next dip. If you own a home in CA and have no desire to own another, enjoy the ride, your equity is about to increase substantially.
Preview of Desktop Underwriter Version 10.0
Fannie Mae is 1 of 2 autimated underwriting systems, that all lenders use to determine your risk assesment. This system is trusted more than humans and no lender will bypass or neglect its decision. Targeting the release of Desktop Underwriter® (DU®) Version 10.0 for the weekend of June 25, 2016. DU Version 10.0 will include:
- enhanced credit risk assessment using trended credit data, and
- simplified and automated underwriting for borrowers with multiple financed properties.
The DU Version 10.0 Preview Notification and Integration Impact Memo are available now to provide more details on the DU Version 10.0 enhancements and to allow lenders and technology solution providers time to prepare. This information should not be considered a substitute for the DU Version 10.0 Release Notes, which will be the authoritative documentation of the enhancements provided by the end of February 2016.
DU has been the industry-leading automated underwriting system for more than 20 years. DU Version 10.0 will provide more certainty and simplicity to lenders while expanding access to credit and sustainable homeownership for creditworthy borrowers.
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