When there is a successful run for DU (Desktop Underwriter), a few important updates are made:
- AUS Tracking Updated with the DU Findings: The Automated Underwriting System (AUS) tracking is updated with the findings from the Desktop Underwriter. This includes any risk assessments, loan eligibility, and recommendations made by the DU. This update provides a record of the DU's analysis, and it's essential for further loan processing and decision-making.
- DU Finding’s PDF is Uploaded to the eFolder: The DU's findings are compiled into a PDF document, which is then uploaded to the electronic folder (eFolder) associated with the loan. This allows for easy access and review of the findings by all relevant parties, including loan officers, underwriters, and any other authorized personnel.
- HMDA Recommendation is Updated: The Home Mortgage Disclosure Act (HMDA) recommendation is updated based on the DU's findings. The HMDA requires many lenders to report information about the home loans for which they receive applications. This update ensures that the HMDA data reflects the most recent analysis and recommendations from the DU.