Desktop Underwriter (DU) and Loan Prospector (LP): What These are typically and Why They thing

Desktop Underwriter (DU) and Loan Prospector (LP): What These are typically and Why They thing

You even more confused, you’re not alone if you’ve ever asked your agent or loan officer what a DU https://speedyloan.net/payday-loans-fl or LP is, only to receive an answer that left.

DU represents Desktop Underwriter and LP means Loan Prospector. Both DU and LP are forms of automatic underwriting systems (AUS). Loan originators utilize DU and LP to ascertain whether that loan satisfies Fannie Mae or Freddie Mac’s eligibility demands which means that DU or LP approval is really a critical step towards closing on a home loan. Leggi tutto “Desktop Underwriter (DU) and Loan Prospector (LP): What These are typically and Why They thing”