Data Required for Loans Underwritten Through Desktop Underwriter
Overview
When you deliver loans that were underwritten through Desktop Underwriter and subsequently submitted through Loan Product Advisor or Loan Quality Advisor, deliver the applicable data in the Underwriting Details and Product Details sections of the “Loan” page as shown in the table below.
Note: When allocating the loan to a contract, ensure the contract contains the Master Commitment (in the Seller/Servicer Guide, this is called a Pricing Identifier) that pertains to the terms of business permitting delivery of these loans. To avoid critical edits, be sure to allocate the loan to a contract (that contains the Pricing Identifier) before assessing/evaluating the loan.
Procedure
Deliver the applicable data in the Underwriting Details and Product Details sections of the “Loan” page as follows:
- Deliver the required fields as shown in the table below. The table lists the Loan Selling Advisor data field name, sort ID and the valid value.
|
Loan Selling Advisor Data Field Name |
Sort ID |
Loan Selling Advisor valid value for loans submitted through… |
|
|
Loan Product Advisor |
Loan Quality Advisor |
||
|
Automated Underwriting System Type |
326 |
Loan Product Advisor |
Desktop Underwriter |
|
Loan Manual Underwriting Indicator |
328 | False | False |
|
Automated Underwriting Recommendation Description |
325 |
Accept |
Approve Eligible |
|
Automated Underwriting Case Identifier |
322 | LPA AUS Key Number | Leave blank |
Also see the example below of the Underwriting Details section, depicting a loan previously submitted through Loan Quality Advisor.
- For the Product Details section, deliver the applicable Investor Feature Identifier (IFI) to indicate whether the loan was subsequently submitted through Loan Product Advisor or Loan Quality Advisor. The table that follows lists the applicable IFI, the underwriting system and underwriting decision or risk assessment values.
|
Investor Feature Identifier |
Underwriting System |
Underwriting Decision or Risk Assessment |
|
H89 |
Loan Product Advisor |
Underwriting Decision of Accept |
|
H99
|
Loan Quality Advisor |
Risk Assessment Result of Green (High likelihood of Accept), which indicates the loan would have received an “Accept” decision if it had been underwritten through Loan Product Advisor. |
Note: For an Early Funding loan, deliver IFI H49 with either H89 or H99 to indicate the respective underwriting system through which the Early Funding loan was submitted and to receive the appropriate underwriting decision or risk assessment.
Also see the example of the Product Details section of the “Loan” page which contains the Investor Feature Identifier data field(s).
- Loans with outstanding critical edits cannot move forward to Ready to Fund status.
Video
Watch the video for step-by-step instructions.