step 3. Whenever a lending institution uses a minumum of one automatic underwriting options (AUS) to test the application form additionally the program or possibilities create a couple of or even more results, the financial institution complies which have 1003.4(a)(35) by the reporting, apart from bought protected loans, title of one’s AUS utilized by the financial institution to help you assess the app therefore the effect made by one AUS once the influenced by the following prices. To see which AUS (otherwise AUSs) and you can impact (or performance) to statement less than 1003.4(a)(35), a financial institution employs each of the standards that is relevant for the app concerned, about acquisition in which he or she is set forth lower than.
If a financial institution gets several AUS results and you may several ones AUS show is generated by a program one to corresponds to the mortgage style of claimed pursuant in order to 1003
we. 4(a)(2), the lending company complies having 1003.4(a)(35) because of the reporting one to AUS term and you may results. Such as, in the event that a loan company evaluates a software using the Government Construction Administration’s (FHA) Technical Accessible to Approved Lenders (TOTAL) Scorecard and you can then assesses the application having a keen AUS accustomed influence qualifications to have a low-FHA financing, however, sooner or later develop an FHA financing, the lending company complies having 1003.4(a)(35) by the reporting Overall Scorecard while the effect produced by you to program. 4(a)(2), the bank makes reference to and that AUS impact are stated because of the pursuing the concept set forth lower than within the remark cuatro(a)(35)-step 3.ii.
ii. If the a loan company receives a couple of AUS efficiency and you may new AUS promoting one of those show corresponds to the new consumer, insurance carrier, or guarantor, if any, the bank complies which have 1003.4(a)(35) by revealing one AUS identity and you will impact. Instance, if a lending institution assesses a software on the AUS of Securitizer A great and you may subsequently evaluates the application on AUS off Securitizer B, nevertheless the financial institution eventually originates a secure financing that it deal in the exact same season so you can Securitizer A, the financial institution complies which have 1003.4(a)(35) by reporting the name of Securitizer A’s AUS in addition to results created by one to system. In the event the a loan company gets several AUS results and you will more than one of them AUS efficiency is created by good program one to represents the latest buyer, insurance provider, otherwise guarantor, if any, the lending company identifies and therefore AUS influence is advertised by the after the idea set forth below when you look at the opinion 4(a)(step 35)-step three.iii.
When the a loan company get a couple of AUS results and you may the new AUS producing some of those abilities corresponds to the mortgage variety of reported pursuant in order to 1003
iii. When the a lending institution receives a couple of AUS abilities and you can not one of the expertise producing people results correspond to the fresh new consumer, insurance company, otherwise guarantor, if any, or the financial institution try next principle given that more one to AUS result is produced by a network one corresponds to both the mortgage type or the consumer, insurance provider, or guarantor, the lending company complies which have 1003.4(a)(35) by reporting brand new AUS effect generated nearest after a while towards the credit age of your AUS you to definitely produced that impact. Eg, in the event that a financial institution evaluates a credit card applicatoin into AUS off Securitizer A, then again assesses the program having Securitizer A’s AUS, the financial institution complies having 1003.4(a)(35) by revealing the name regarding Securitizer A’s AUS and second AUS effects. Likewise, in the event that a lender obtains an originate from an AUS you to definitely necessitates the standard bank so you’re able to underwrite the mortgage by hand, source hyperlink but the financial institution then procedure the application through yet another AUS which also stimulates a consequence, the lending company complies which have 1003.4(a)(35) by the revealing the name of your 2nd AUS it put to check on the application and AUS result made by you to program.