step three. Whenever a lender uses no less than one automatic underwriting assistance (AUS) to check the applying while the system or solutions make several or even more abilities, the financial institution complies which have 1003.4(a)(35) by reporting, apart from ordered shielded funds, title of one’s AUS employed by the financial institution so you can assess the application and also the impact generated by one AUS as the dependent on the next beliefs. To see which AUS (or AUSs) and you will result (otherwise show) in order to statement below 1003.4(a)(35), a financial institution comes after each one of the standards that is applicable toward software in question, throughout the order in which he is established less than.
When the a loan company receives a couple of AUS overall performance and you can several of these AUS performance is created from the an effective system you to definitely represents the mortgage method of reported pursuant to 1003
we. 4(a)(2), the lending company complies with 1003.4(a)(35) because of the revealing you to definitely AUS name and results. Like, in the event the a lender assesses a credit card applicatoin using the Federal Construction Administration’s (FHA) Technology Accessible to Acknowledged Lenders (TOTAL) Scorecard and then assesses the program that have a keen AUS accustomed determine qualification getting a non-FHA financing, but ultimately starts an FHA mortgage, the lending company complies which have 1003.4(a)(35) because of the reporting Full Scorecard together with results made by you to program. 4(a)(2), the lending company makes reference to hence AUS impact should be claimed by the adopting the concept set forth less than during the comment 4(a)(step 35)-step three.ii.
ii. If a lending institution get a couple of AUS performance and you will the fresh new AUS producing one of those results represents the new buyer, insurance company, or guarantor, if any, the bank complies with 1003.4(a)(35) of the revealing one to AUS identity and you can result. Particularly, in the event the a lending institution assesses a loan application to the AUS away from Securitizer An excellent and you can then assesses the application form into AUS off Securitizer B, nevertheless the financial institution at some point develop a protected mortgage it offers into the same season so you can Securitizer Good, the lending company complies having 1003.4(a)(35) from the reporting title from Securitizer A’s AUS and the effect created by you to program. When the a lending institution receives several AUS performance and you can one or more of those AUS abilities is made because of the a beneficial system you to represents this new purchaser, insurance carrier, otherwise guarantor, or no, the lending company makes reference to and this AUS results can be stated by the after the concept established less than into the feedback 4(a)(35)-3.iii.
If the a lending institution get a couple of AUS abilities and you can the fresh AUS producing one of those show corresponds to the loan type stated pursuant in order to 1003
iii. When the a lending institution gets several AUS results and you may none of your own possibilities promoting those individuals overall performance correspond to this new purchaser, insurer, otherwise guarantor, if any, and/or lender is actually next idea because the more than one to AUS result is created by a system that corresponds to either the mortgage method of or the customer, insurance carrier, or guarantor, the financial institution complies which have 1003.4(a)(35) of the reporting the fresh AUS result made closest in the long run with the borrowing from the bank age of AUS that produced you to influence. Such as for instance, if the a lending institution evaluates an application to your AUS of Securitizer A good, after that once more assesses the applying that have Securitizer A’s AUS, the lending company complies having 1003.4(a)(35) because of the reporting title from Securitizer A’s AUS and next AUS impact. Similarly, in the event that a lender receives an originate from a keen AUS one requires the financial institution to help you underwrite the mortgage manually, nevertheless the lender subsequently procedure the application thanks to a different sort of AUS that can yields an end result, the bank complies which have taking out a loan for a vacation 1003.4(a)(35) because of the reporting title of your own 2nd AUS that it utilized to test the application form and AUS results made by you to definitely program.
