RC_LP_U_303.1 Defining Automated Underwriting Systems
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
This is a single-family/residential course.
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 automated underwriting systems such as DU and LPA revolutionized the mortgage industry. 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.
Seat time approximately one (1) hour.