automated mortgage underwriting
automated mortgage underwriting
Loan processing that is entirely or predominantly performed by computers using artificial intelligence, without human assistance or intervention. The computer has a complex set of instructions to follow depending on the data input by the consumer or by a data entry clerk,including ordering credit reports and other financial data and evaluating all borrower information against predetermined profiles for acceptable lending requirements.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.