Automated Underwriting – LP vs DU

The auto industry has done it with self parking cars.  The vacuum industry has done it with automated vacuums.  Automation is now a part of the mortgage industry as well! Mortgage lending depends on "automated underwriting".   Automated underwriting involves a computerized analysis for each loan application.  2 primary automated underwriting systems currently exist in mortgage lending.  They are: Desktop Underwriting ("DU") Loan Prospector ("LP") Desktop Underwriter is governed by … [Read more...]