VA Refer-Eligible Findings Versus AUS Approval Guidelines
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VA Refer-Eligible Findings Versus AUS Approval Guidelines

ByAlex Carlucci Posted on

In this blog, we will discuss and cover VA refer-eligible findings versus AUS approval guidelines. The United States Department of Veterans Affairs commonly referred to as The VA, is the parent federal agency that administers VA Home Loans for the active and retired members of our Military.  In the complex real estate landscape, the intersection…

Manual Underwriting Versus Automated Approval
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Manual Underwriting Versus Automated Approval

ByGustan Cho Posted on

This guide covers manual underwriting versus automated approval. There are two types of Automated Underwriting Systems (AUS): Fannie Mae’s Automated Underwriting System is referred to as Desktop Underwriting (DU) and Freddie Mac’s AUS is known as Loan Prospector (LP). All government and conventional loans need to go through either DU and/or LP Automated Underwriting System…

Refer-Eligible per Automated Underwriting System
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Refer-Eligible Per Automated Underwriting System Findings

ByGustan Cho Posted on

This article will cover and discuss refer-eligible per automated underwriting system findings. All mortgage loan applicants need to go through the automated underwriting system (AUS) before the loan process can proceed. If the findings on the automated underwriting system render an approve/eligible, that means the AUS approves the borrower. There are three decisions the automated…

How Credit Repair Can Affect The Mortgage Process
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How Credit Repair Can Affect The Mortgage Process

ByGustan Cho Posted on

This guide covers how credit repair can affect the mortgage process and cause a mortgage loan denial. There are several things to keep in mind with how credit repair can affect the mortgage process. Many people want to know the fastest way to repair credit and improve credit score to qualify for a mortgage. Homebuyers…

Conforming Underwriting Guidelines On Conventional Loans
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Conforming Underwriting Guidelines on Conventional Loans

ByGustan Cho Posted on

This guide covers conforming underwriting guidelines on conventional loans. Conventional Loans are called conforming loans because they need to conform to Fannie Mae and Freddie Mac Mortgage Guidelines. Conventional loans are not government-backed loans. No government entity insures and guarantees conforming loans. Dale Elenteny of Gustan Cho Associates explains why conventional loans are called conforming…

Errors on Credit Reports
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How Errors on Credit Reports Affect AUS FINDINGS

ByGustan Cho Posted on

In this guide, we will cover how errors on credit reports affect AUS Findings. One of the most important things to realize before a mortgage loan application can be processed and underwritten is to get a DU ( Desktop Underwriter ) automated approval by Fannie Mae’s Automated Underwriting System. Fannie Mae’s Automated Underwriting System is…

FHA Automated Findings With Low Credit Scores And High DTI
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FHA Automated Findings With Low Credit Scores And High DTI

ByGustan Cho Posted on

This Article Is About FHA Automated Findings With Low Credit Scores And High DTI  It will be much more difficult getting an FHA Automated Findings Approval on the automated underwriting system (AUS) this year. HUD, the parent of FHA, has changed its algorithms on the automated underwriting system. The algorithm changes make it much more…

Fannie Mae Automated Underwriting System Approval (1)

Fannie Mae Automated Underwriting System Approval

ByGustan Cho Posted on

This Article Is About Fannie Mae Automated Underwriting System Approval Borrowers normally need an automated approval by the Automated Underwriting System also referred to as AUS in order to proceed with their mortgage loan process. There are two types of Automated Underwriting Systems: Fannie Mae Freddie Mac Fannie Automated Underwriting System Approval is called Desktop…