3. When a loan company uses one or more automatic underwriting expertise (AUS) to test the program and also the system or assistance make a couple of or more abilities, the lending company complies with 1003.4(a)(35) by revealing, with the exception of ordered shielded loans, the name of your AUS used by the lending company so you’re able to assess the software while the results created by you to definitely AUS because the influenced by the following principles. To determine what AUS (or AUSs) and you will effect (or abilities) so you’re able to statement under 1003.4(a)(35), a lending institution uses each of the values which is applicable with the app at issue, throughout the buy where he could be set forth lower than.
If the a financial institution go obtains two or more AUS abilities and you can more than one of those AUS efficiency is generated by the an effective program you to corresponds to the loan type reported pursuant in order to 1003
i. 4(a)(2), the financial institution complies that have 1003.4(a)(35) from the revealing one AUS name and you can result. Such as, when the a financial institution assesses an application with the Federal Housing Administration’s (FHA) Tech Offered to Recognized Lenders (TOTAL) Scorecard and you can next evaluates the application with a keen AUS always dictate eligibility to own a non-FHA loan, but fundamentally originates a keen FHA financing, the bank complies which have 1003.4(a)(35) by reporting Overall Scorecard in addition to result made by you to program. 4(a)(2), the lending company makes reference to and that AUS effect can be advertised from the after the principle set forth less than within the opinion cuatro(a)(35)-step three.ii.
ii. When the a lending institution receives several AUS efficiency and you can brand new AUS creating some of those overall performance represents brand new consumer, insurance company, or guarantor, or no, the bank complies with 1003.4(a)(35) by the reporting you to AUS label and effects. Such, if a lending institution evaluates a software into AUS out-of Securitizer An excellent and you will next assesses the application form into the AUS off Securitizer B, nevertheless the lender eventually starts a secured loan this carries during the exact same calendar year in order to Securitizer A, the bank complies that have 1003.4(a)(35) from the revealing title away from Securitizer A’s AUS while the effect created by you to system. If a lender gets several AUS results and you can multiple ones AUS performance is generated by the good system you to represents the latest customer, insurance carrier, or guarantor, if any, the bank relates to which AUS effect is going to be reported because of the following principle established less than from inside the remark 4(a)(step 35)-step 3.iii.
In the event that a lender receives several AUS efficiency and you will the latest AUS producing one particular results corresponds to the borrowed funds form of advertised pursuant so you’re able to 1003
iii. When the a financial institution receives several AUS show and you will none of your possibilities generating those overall performance correspond to the fresh new purchaser, insurance provider, or guarantor, or no, and/or standard bank is following this idea as over you to AUS outcome is made by a system that represents possibly the borrowed funds kind of or the purchaser, insurance company, otherwise guarantor, the lending company complies with 1003.4(a)(35) from the revealing the latest AUS result made nearest in the long run to the credit e of AUS one produced you to results. Such as, if a financial institution evaluates a software with the AUS out-of Securitizer A, after that once more evaluates the program that have Securitizer A’s AUS, the lending company complies having 1003.4(a)(35) because of the revealing the name out of Securitizer A’s AUS as well as the 2nd AUS results. Likewise, if a lending institution get a result from a keen AUS one to necessitates the financial institution in order to underwrite the borrowed funds by hand, although standard bank after that techniques the application form by way of a unique AUS that also builds an end result, the financial institution complies that have 1003.4(a)(35) by the revealing the name of second AUS so it utilized to evaluate the applying and the AUS effects created by that program.
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