Reporting loans with two AUS reports

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Question:

If underwriting pulls two AUS reports trying to get the customer approved for FannieMae and Freddie Mac, do we report both results or only the last one completed that shows approved or ineligible?

Answer:

Look at the Official Interpretations to 1003.4(a)(35)...

3. Reporting automated underwriting system data—multiple results. When a financial institution uses one or more automated underwriting systems (AUS) to evaluate the application and the system or systems generate two or more results, the financial institution complies with § 1003.4(a)(35) by reporting, except for purchased covered loans, the name of the AUS used by the financial institution to evaluate the application and the result generated by that AUS as determined by the following principles. To determine what AUS (or AUSs) and result (or results) to report under § 1003.4(a)(35), a financial institution follows each of the principles that is applicable to the application in question, in the order in which they are set forth below.

Most likely you are generally going to report the final results that were used to evaluate the application.