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.

References in periodicals archive ?

FAMUS--an acronym for First Horizon Automated Mortgage Underwriting System--is a pre-qualification tool accessible to First Horizon's wholesale broker associates 24 hours a day, providing the tools they need consistently and reliably.

First Horizon unveils 'FAMUS' new technology for brokers

Automated mortgage underwriting has streamlined the mortgage process.

Fannie Mae CEO: housing is the decade's new economic powerhouse

While there have been a number of positive developments in housing in recent years, automated mortgage underwriting represents a quantum leap forward.

Brendsel on housing policy

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