Automated Underwriting
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- An automated process performed by a technology application that streamlines the processing of loan applications and provides a recommendation to the lender to approve the loan or refer it for manual underwriting.
Federal Trade Commission - Cite This Source - This Definition - Loan processing completed through a computer-based system that evaluates past credit history to determine if a loan should be approved. This system removes the possibility of personal bias against the buyer.
US Department of Housing and Urban Development - Cite This Source - This Definition - application, Loan Origination, mortgage lender, Origination, Pre-Approval, Third-Party Origination, Underwriter, underwriting, Uniform Residential Loan Application