step three. Whenever a lending institution spends no less than one automated underwriting solutions (AUS) to evaluate the program in addition to system or possibilities create a couple or maybe more performance, the bank complies with 1003.4(a)(35) by revealing, apart from purchased secured money, title of AUS used by the financial institution to help you evaluate the software in addition to effect produced by one AUS once the determined by the following standards. To see which AUS (or AUSs) and you will results (or performance) to help you statement lower than 1003.4(a)(35), a lending institution comes after each one of the principles that’s applicable toward app at issue, regarding the buy in which they are established less than.
If the a lending institution receives a couple of AUS performance and you will multiple ones AUS overall performance is established because of the a system one corresponds to the borrowed funds type of reported pursuant so you can 1003
i. 4(a)(2), the bank complies that have 1003.4(a)(35) because of the revealing that AUS term and you will effects. Such as, when the a loan company assesses a loan application utilising the Government Homes Administration’s (FHA) Technology Accessible to Acknowledged Loan providers (TOTAL) Scorecard and you will then assesses the program having an enthusiastic AUS accustomed determine eligibility getting a low-FHA financing, but at some point develop a keen FHA financing, the lending company complies with 1003.4(a)(35) of the revealing Total Scorecard while the results created by one program. 4(a)(2), the lending company makes reference to hence AUS result will likely be claimed because of the pursuing the idea set forth lower than into the remark 4(a)(35)-step three.ii.
ii. If the a loan company receives a couple of AUS efficiency and you will this new AUS generating some of those efficiency corresponds to new purchaser, insurance carrier, or guarantor, if any, the financial institution complies having 1003.4(a)(35) by revealing you to AUS term and you will results.