In Brief: Countrywide to Use Fannie Mae System

Countrywide Home Loans Inc. will use Fannie Mae's automated underwriting system in conjunction with its own to bolster appraisals for loans it sells to the secondary-market agency.

The lender will begin using the system in the fourth quarter.

Fannie Mae's Desktop Underwriter streamlines the appraisal process with a concise report form and an option giving lenders an exterior-only report.

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