RC_LP_U_303.1 Defining Automated Underwriting Systems
Defining Automated Underwriting Systems provides a high-level overview of automated underwriting and an introduction to the two primary automated underwriting systems in use today: Fannie Mae's Desktop Underwriter (DU) and Freddie Mac's Loan Product Advisor (LPA).
The course begins with an introduction to automated underwriting systems and usage and an explanation of how and why they are used. The course then describes the automated underwriting process. Next, the importance of data integrity and data validation is addressed. Toward the end of the lesson, the role of MISMO (Mortgage Industry Standards Maintenance Organization, Inc.) is described.
This is a single-family/residential course.
Seat time approximately 30 mins.