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#2216982 - 07/03/19 02:20 PM Multiple AUS reporting
tedster Offline
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tedster
Joined: Jul 2006
Posts: 108
Philadelphia
We have been using multiple AUS for some loans. However, our lending group has indicated that one is used for underwriting, and the other is run to determine whether to sell the loan in the secondary market, or to retain it in the portfolio. So, would we report the results of both, or just the one for underwriting? I'm not sure about the definition of reporting the AUS used for "evaluating" the application.
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#2217000 - 07/03/19 05:10 PM Re: Multiple AUS reporting tedster
Mountaineers_Fan Offline
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Joined: Jun 2018
Posts: 100
I went down a similar rabbit hole not too long ago. Are both AUS's run simultaneously? If so report both.

If not, does one of the AUSs match your loan type? Ex. USDA and GUS. If so use that AUS.
If not, does one of the AUSs correspond to an insurer, purchaser, or guarantor? Ex. Fannie Mae and Desktop Underwriter. If so use that one.
If none correspond, or if multiple, report the AUS closest in time to the credit decision.

Hope this helps.

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