Automated Underwriting – LP vs DU

The auto industry has done it with cars that park themselves.  The vacuum cleaner industry has done it with a vacuum that cleans an entire home on its own.  The Arizona mortgage world has gone robotic too!  When underwriting a file and determining whether a client is approved for a new home loan, the mortgage world largely depends upon something referred to as "automated underwriting."  Automated underwriting is based on a computer system that analyzes a loan application from top to bottom … [Read more...]