RC_LP_U_304.1 Underwriting Methodology
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
This is a single-family/residential course.
Fannie Mae and Freddie Mac provide guidance about how various loans must be underwritten—whether they must be run through the agency's automated underwriting system (AUS) or underwritten manually. This course reviews agency guidelines for which loans may or must be reviewed either through the agency AUS or through a manual review.
Underwriting Methodology begins with a review of Fannie Mae and Freddie Mac guidelines for loans that are ineligible for evaluation through an AUS and therefore always require a manual review. The second part of the course reviews the Desktop Underwriter (DU) or Loan Product Advisor (LPA) recommendations that trigger a manual review. Toward the end of the course, we review the loan types that always must be evaluated using DU or LPA to be eligible for delivery to Fannie Mae or Freddie Mac.
Seat time approximately one (1) hour.