Fannie Mae taking the average median score - 2022

[Anonymous]

Can someone please let me know if this is true, is Fannie Mae's desktop underwriter system really averaging the median scores if there are two borrowers? Has anyone see seen success with this yet? link is below

https://capitalmarkets.fanniemae.com/mortgage-backed-securities/fannie-mae-introduces-new-underwriti...

[ShanetheMortgageMan]

This is only used to determine if the 620 minimum score eligibility requirement has been met.  So if one borrower's middle score is 619 and the other's middle score is 621 then previously the 619 score borrower wouldn't be allowed on the loan... but since they now average the scores, they will both be allowed since the average scores meets the minimum 620 score requirement.

[Anonymous]

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@ShanetheMortgageMan wrote:

This is only used to determine if the 620 minimum score eligibility requirement has been met.  So if one borrower's middle score is 619 and the other's middle score is 621 then previously the 619 score borrower wouldn't be allowed on the loan... but since they now average the scores, they will both be allowed since the average scores meets the minimum 620 score requirement.

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@ShanetheMortgageMan Thank you so much! I'm assuming based on the article that rates will still be based on the lowest middle score? 

[ShanetheMortgageMan]

You're welcome & yes that is correct.