source:
  type: guide
  id: fnma-sel-b3-6-08
  authority: 'Fannie Mae Selling Guide B3-6-08 — DU: Requirements for Liability Assessment'
  description: 'Fannie Mae Selling Guide B3-6-08 — DU: Requirements for Liability
    Assessment.'
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-6-08-full
  canonical_id: fnma-sel-b3-6-08-full
  section: 'Fannie Mae Selling Guide B3-6-08 — DU: Requirements for Liability Assessment'
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Selling Guide B3-6-08 — DU: Requirements for Liability
      Assessment'
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-6-08, DU: Requirements for Liability Assessment (01/27/2015)
      Introduction This topic contains information on DU requirements for liability
      assessment, including: Reconciling the Loan Application with the Credit Report
      Auto-Populating DU Liabilities from the Credit Report Reconciling the Loan Application
      with the Credit Report DU uses liabilities from the loan application, not debts
      from the credit report, to calculate the debt-to-income ratio. To help ensure
      that all appropriate liabilities are included in the debt-to-income ratio, DU
      performs a series of reasonableness tests comparing loan application balances
      and payments with the credit report balances and payments. If the values on
      the loan application are less than the values on the credit report by more than
      selected tolerances, the lender must justify the discrepancies between the two.
      The lender must update the loan application values if the values are needed
      to calculate accurate ratios. The information must be updated Published May
      6, 2026 515 either with veriﬁed values from the credit report or with independent,
      outside veriﬁcations. Auto-Populating DU Liabilities from the Credit Report
      The lender can automatically copy the borrower’s liabilities from the credit
      report to the loan application by selecting the auto-populate liabilities option
      from DU when the credit report is ordered. If the lender’s loan origination
      system does not oﬀer this option, or if the lender elects not to use it, the
      liabilities must be entered manually into the loan application. When the auto-populate
      option is selected, it is not necessary to obtain additional borrower disclosure
      for tradelines appearing on the credit report. The lender is still required
      to obtain full disclosure from all borrowers, including borrowers who do not
      have traditional credit, of all existing credit obligations. Liabilities that
      do not appear on the credit report, such as monthly housing expenses for taxes,
      insurance, must be disclosed in the loan application prior to ﬁnal submission
      to DU. If the auto-populate liabilities option is selected BEFORE liabilities
      have been manually entered in the loan application: Open accounts will be automatically
      copied to the loan application. Closed accounts on the credit report are not
      automatically copied to the loan application. If the account has an outstanding
      balance, the lender must manually enter the liability in the loan application
      and include the monthly payment in the debt-to-income ratio. Collection accounts
      on the credit report are not automatically copied to the loan application. If
      the auto-populate liabilities option is selected AFTER liabilities have been
      manually entered in the loan application: DU will attempt to match existing
      liability accounts listed on the loan application to the credit report liabilities
      by using a combination of account name and account number. Open accounts from
      the credit report that were not manually entered on the loan application will
      be automatically copied to the loan application. DU will use the information
      on the loan application to calculate the debt-to-income ratio. If duplicate
      accounts or accounts that do not belong to the borrower were copied to the loan
      application and included in the debt-to-income ratio, they may be omitted (or
      deleted) from the loan application. Debts that are omitted will not be counted
      in the debt-to-income ratio. Recent Related Announcements There are no recently
      issued Announcements related to this topic. Subpart B4, Underwriting Property
      Introduction This subpart contains property underwriting and appraisal requirements
      for conventional loans. Published May 6, 2026 516 Chapter B4-1, Property Assessment
      and Valuation Introduction This chapter explains Fannie Mae’s property assessment
      and valuation requirements, including documentation, appraisal and data collection
      requirements. Section B4-1.1, General Appraisal Requirements'
  judgment: false
