Fannie Mae said it has upgraded its automated underwriting system to make loans available to more borrowers.

The enhancement modifies the loan-to-value ratios that Fannie will accept in certain cases, as long as sufficient mortgage insurance is obtained.

Also, lenders can feed in less information to get a determination from Fannie Mae. For instance, lenders will be able to accept less employment and other documentation from prospective borrowers, said Mike Williams, Fannie Mae senior vice president for customer technology services.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.