When a user accesses Services > Automated Underwriting, the Loan Number and Borrower Name will display. If AU has not yet been ordered, the Submission Type drop-down choice will default to Credit and Underwriting, the only option. Once AU has been ordered, the additional option of Underwriting Only will display in the Submission Type drop-down list.
The blue HERE hyperlink allows the user to enter an existing credit reference number to associate with the AU submission. If credit has already been ordered in the LOS, the existing reference number will auto-populate when the user clicks the HERE link.
Ensure the correct Credit Agency displays in the drop-down list and enter user Account Number and Password credentials.
Tip: Mark the Remember Password for Login Session checkbox to retain credentials while the user remains logged into the LOS for all credit submissions on all loan files. Once a user logs out, the Account Number and Password will be required to be reentered.
If the loan was already submitted to DU outside of the LOS, users can enter the existing Fannie Mae Casefile ID.
A blue HERE hyperlink at the bottom of the screen will display allowing the user to switch the Base 1003 Format between Fannie Mae (Desktop Underwriter) and Freddie Mac (Loan Prospector), with the applicable user right enabled.
Tip: If the Base 1003 Format is changed, the 1003 data must be updated before submitting to AU.
Click Submit to complete the AU submission.
Click Cancel to void the AU submission and return the display to the Loan Dashboard.
Tip: If there is required information missing at time of submission, the incomplete information will display. Click on the blue hyperlink associated with the missing data to be directed to correct LOS screen for missing data entry.
Once AU has been submitted, the Automated Underwriting screen will close and the display will return to the Loan Dashboard. In the Loan Details section of the Loan Dashboard, the AU Status will display Submitted and there will be a spinning icon to the right of Services > Automated Underwriting until the findings have been returned successfully and the spinning icon is replaced with a view icon (paper with a spyglass).
Tip: If the submission is not successful a warning icon will replace the spinning icon. Click on the icon to review any errors, correct, and resubmit.
The AU decision will appear on the Loan Dashboard, Loan Pipeline, and under Status & Tracking > Loan Status > Order Status > AU Results. When the findings-titled blue hyperlink is selected in any of these locations, a new window will display with the AU findings.