step three. When a lender spends no less than one automated underwriting systems (AUS) to evaluate the application together with system otherwise assistance make a couple or even more performance, the lending company complies having 1003.4(a)(35) by reporting, except for ordered safeguarded loans, title of your own AUS used by the bank so you can measure the software together with result generated by one AUS as the determined by the following prices. To determine what AUS (or AUSs) and you will effect (otherwise results) to declaration less than 1003.4(a)(35), a loan company follows each one of the principles that’s appropriate on software in question, on the buy where he’s set forth below.
When the a lending institution obtains two or more AUS results and you will more than one ones AUS performance is done by an excellent system you to represents the borrowed funds style of claimed pursuant so you can 1003
we. 4(a)(2), the financial institution complies that have 1003.4(a)(35) because of the revealing that AUS title and results. Including, if a financial institution evaluates an application by using americash loans Gainesville the Government Casing Administration’s (FHA) Technology Available to Acknowledged Loan providers (TOTAL) Scorecard and you may subsequently assesses the application which have an enthusiastic AUS always influence qualification to own a non-FHA financing, however, eventually starts an enthusiastic FHA financing, the bank complies that have 1003.4(a)(35) by revealing Overall Scorecard plus the influence produced by you to system. 4(a)(2), the bank identifies hence AUS effects might be said because of the after the idea established lower than in opinion cuatro(a)(35)-step three.ii.
ii. If a financial institution gets two or more AUS show and you may the newest AUS promoting one of those show corresponds to the new purchaser, insurance company, otherwise guarantor, if any, the financial institution complies that have 1003.4(a)(35) by reporting one to AUS name and result. Such as, in the event that a lending institution evaluates a loan application for the AUS off Securitizer A great and you may next evaluates the application with the AUS out-of Securitizer B, however the lender ultimately originates a shielded mortgage that it deal when you look at the exact same season so you’re able to Securitizer Good, the financial institution complies with 1003.4(a)(35) by revealing title off Securitizer A’s AUS additionally the impact produced by one to program. In the event that a loan company gets 2 or more AUS overall performance and you may several of those AUS results is created of the an excellent system you to definitely corresponds to the fresh new customer, insurance carrier, otherwise guarantor, if any, the lending company makes reference to and this AUS influence can be claimed of the adopting the concept established below in the feedback 4(a)(step 35)-step three.iii.
If the a lending institution receives several AUS efficiency and you can the newest AUS producing some of those overall performance corresponds to the borrowed funds form of claimed pursuant so you can 1003
iii. When the a financial institution receives two or more AUS performance and you will not one of one’s systems generating the individuals overall performance match the fresh consumer, insurance provider, otherwise guarantor, if any, or perhaps the lender try next concept because the more than one AUS result is produced by a network one to corresponds to sometimes the loan particular or the consumer, insurer, or guarantor, the financial institution complies which have 1003.4(a)(35) by the revealing this new AUS results generated closest eventually for the credit age of AUS you to definitely produced one effects. Eg, in the event that a lending institution evaluates a credit card applicatoin on the AUS out-of Securitizer A great, next again evaluates the application having Securitizer A’s AUS, the financial institution complies that have 1003.4(a)(35) by reporting the name of Securitizer A’s AUS and next AUS results. Also, in the event the a lender receives a result from an AUS you to definitely necessitates the standard bank to underwrite the mortgage by hand, however the standard bank after that processes the application form thanks to another AUS that can builds an end result, the bank complies with 1003.4(a)(35) by reporting the name of one’s next AUS it put to check the program together with AUS impact created by that system.