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What to do and you may Predict In this Procedure

What to do and you may Predict In this Procedure

Technically talking, the full Scorecard try accessed because of an automatic Underwriting Program (AUS) that will be not an AUS by itself. However, our company is entering this new weeds here.

The point is that every FHA buy loans have to initially go as a consequence of an automated underwriting program that utilizes the full Scorecard algorithm, and lots of will likely be flagged for a handbook review.

  • In the event the a borrower are well-certified without any warning flag, they truly are acknowledged as a result of Overall without the need for people/manual underwriting.
  • However in some instances, the complete formula usually choose a problem and downgrade the borrowed funds document. This means that an individual underwriter need to step up and manually feedback the newest file.

In short, any time a debtor drops outside the important qualification conditions for a keen FHA mortgage, they will likely have to go through a manual underwriting comment.

About three Possible Results for Individuals

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Brand new underwriting techniques can result in around three you’ll consequences.