We are having some discussions about the AUS and findings.
Naturally on Secondary Market loans, we run an AUS on all. Therefore, it will always be reported.
On Portfolio loans, they pull an AUS but state that they just use it for documentation (possibly less documentation), but they say that it is not used in the decision making process. It is a manual underwrite.
I know it states 'Indicate the automated underwriting system(s) (AUS) used by your institution to 'evaluate' the application by entering . . . .'
I believe we are still using it to 'evaluate' the loan and should report it. They are thinking that we shouldn't as it wasn't used in the decision making (manual underwrite). I believe we are talking about 2 different things here.