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About the Refinance Application-Level Index

Fannie Mae's Refinance Application-Level Index (RALI) is a weekly series that sources data from its automated underwriting system, Desktop Underwriter® (DU®), to provide the market timely, comprehensive, and ongoing tracking of refinance activity and historical trends.

The RALI was created to provide sharper insights around future prepayments to mortgage markets and to improve transparency into the overall size of the refinance mortgage market. The index leverages DU loan application data to provide market participants with near real-time insights into the direction and scope of market refinance and prepayment activity. By utilizing DU’s broad market footprint of an estimated 1,900 lenders in 2021, the RALI provides a comprehensive real-time and historical view of refinance application activity. This additional transparency into market-wide, real-time refinance and prepayment trends can support more accurate tracking, modeling, and planning by mortgage market participants.

Learn more about the Refinance Application-Level Index (RALI) in the following materials: