Automated Underwriting System


Also found in: Acronyms.

Automated Underwriting System

A particular computerized system for doing automated underwriting.

Mortgage insurers and some large lenders have developed such systems, but the most widely used are Fannie Mae's “Desktop Underwriter” and Freddie Mac's “Loan Prospector.”

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This first phase of what will be a comprehensive web-based automated underwriting system specifically for small balance commercial lending includes the Prequal Loan Quote function coupled with a real-time pricing engine.
CSCs nbAccelerator has many strong features that are worthy of consideration for large- to medium-size insurers looking for an automated underwriting system.
Bullseye Offers Full Automated Underwriting System and Credit & Document Management Platforms to Speed Entire Loan Closing Cycle
The addition of a product and pricing engine (PPE), an automated underwriting system (AUS) and Federal Housing Administration (FHA) eligibility decisions to its mortgage origination platform further solidifies Calyx's end-to-end offering, according to the company.
Calyx Software recently acquired Loan-Score, Inc, which will provide clients with valuable banking functions including an automated underwriting system, product and pricing engine and the FHA TOTAL Scorecard interface.
The addition of a product & pricing engine, an automated underwriting system as well as FHA eligibility decisions to the number one mortgage origination platform further solidifies Calyx's end-to-end offering.
What we love about Loan-Score is that their solution encompasses both a product and pricing engine [PPE] and an automated underwriting system [AUS], which enables us to return accurate pricing and product eligibility along with an actual automated underwriting approval.
Porter managed institutional markets, implementing the use of PMI's automated underwriting system in the capital markets.
Because the solution's automated underwriting system (AUS) component emulates each of United Fidelity Funding's full set of investor underwriting guidelines, loan officers and brokers receive accurate pricing and instant automated underwriting approvals while at the point of sale (POS), which carries the same weight as a human underwriter's decision.
For those clients seeking a PPE coupled with a comprehensive automated underwriting system (AUS) system, development agreements have been executed with Loan-Score Decisioning Systems and PriceMyLoan.
Costa Mesa, California-based PriceMyLoan (PML) announced the release of an integration to Freddie Mac's Loan Prospector[R] automated underwriting system, designed to allow originators to obtain decisions from Loan Prospector from within the PML system.
This includes users of OpenClose, a single-source-code, end-to-end automated mortgage system, and Decision Assist, a loan pricing and automated underwriting system.

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