step three. When a lending institution uses no less than one automated underwriting options (AUS) to check the program in addition to program or assistance create one or two or higher abilities, the lending company complies with 1003.4(a)(35) by revealing, apart from ordered secured money, the name of AUS used by the lending company to help you evaluate the application plus the effect made by one AUS once the influenced by the second prices. To determine what AUS (or AUSs) and you can influence (otherwise abilities) in order to statement lower than 1003.4(a)(35), a lending institution pursue all the beliefs that is appropriate into application at issue, in the purchase in which he is established less than.
In the event the a financial institution get 2 or more AUS results and you can one or more of those AUS abilities is created by the good program one represents the mortgage sorts of reported pursuant so you can 1003
i. 4(a)(2), the financial institution complies having 1003.4(a)(35) because of the reporting you to definitely AUS title and you will result. Instance, if a lender evaluates a software making use of the Federal Homes Administration’s (FHA) Technology Accessible to Recognized Lenders (TOTAL) Scorecard and you can subsequently assesses the application that have a keen AUS used to influence qualification to possess a low-FHA loan, however, eventually develop an enthusiastic FHA loan, the bank complies with 1003.4(a)(35) by revealing Total Scorecard plus the effect from one system. 4(a)(2), the bank identifies and therefore AUS result would be said by after the concept established below into the comment 4(a)(step three5)-step 3.ii.
ii. If the a lending institution obtains a couple of AUS overall performance and you will this new AUS creating one of those overall performance represents the go fresh new buyer, insurance company, or guarantor, or no, the lending company complies that have 1003.4(a)(35) because of the reporting one AUS identity and you may result. For example, in the event that a lender evaluates an application to the AUS of Securitizer A good and you will next assesses the program into AUS out of Securitizer B, nevertheless financial institution in the course of time develop a shielded mortgage which deal within the same season so you can Securitizer A great, the bank complies which have 1003.4(a)(35) by the revealing the name away from Securitizer A’s AUS in addition to impact made by one program. In the event that a lending institution get a couple of AUS performance and you can one or more of them AUS efficiency is done from the a good system you to definitely corresponds to the newest buyer, insurer, otherwise guarantor, if any, the financial institution describes hence AUS effects would be said because of the pursuing the concept established below within the opinion cuatro(a)(step three5)-step three.iii.
When the a lending institution receives 2 or more AUS results and you may the AUS generating some of those efficiency represents the borrowed funds style of claimed pursuant in order to 1003
iii. When the a loan company obtains 2 or more AUS abilities and you will none of your own assistance promoting those results correspond to this new purchaser, insurance carrier, or guarantor, or no, or even the standard bank is next idea as more than you to definitely AUS result is from a system one represents either the borrowed funds kind of or even the purchaser, insurance company, or guarantor, the bank complies which have 1003.4(a)(35) because of the reporting the fresh AUS results made nearest with time for the borrowing from the bank elizabeth of your AUS one made one to effects. Such as for instance, if the a loan company assesses a credit card applicatoin for the AUS out-of Securitizer A good, subsequently again assesses the application which have Securitizer A’s AUS, the financial institution complies that have 1003.4(a)(35) from the reporting title from Securitizer A’s AUS plus the next AUS impact. Also, when the a financial institution get a come from a keen AUS you to requires the financial institution so you can underwrite the mortgage manually, nevertheless financial institution then processes the application form due to an alternative AUS that also generates a consequence, the financial institution complies having 1003.4(a)(35) of the revealing title of your next AUS that it put to check the program and AUS influence from that system.