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WHAT IS D U approval?

Member

WHAT IS D U approval?

I have DU approval THIS IS GOOD SIGNAL?

Message 1 of 6
5 REPLIES
Regular Contributor

Re: WHAT IS D U approval?

Desktop Underwriter Software.... https://www.efanniemae.com/sf/technology/ou/du/aboutdu.jsp

 

So in effect, a computer program approved you, not a human with common sense for more complicated situations.  If you're just a simple W-2 employee, with simple finances, then the computer program can approve you without the need for manual underwriting by a human being.

 

 

Message 2 of 6
Super Contributor

Re: WHAT IS D U approval?

if the loan officer input good data, then it is very good.

 

 

Retired Lender
Message 3 of 6
Established Contributor

Re: WHAT IS D U approval?

Isn't DU and AU the same thing?  I got a DU approval as well, but I seen it as AU approval. Confused now!


Starting Score: 615
Current Score: 709
Goal Score: 750


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Message 4 of 6
Super Contributor

Re: WHAT IS D U approval?

DU is a type of AU, like LP & FHA TOTAL are... confused?  Smiley Happy

 

DU is Fannie Mae's version of automated underwriting (AU), LP (LoanProspector) is Freddie Mac's... FHA TOTAL Scorecard is used when you are applying for an FHA loan, both DU & LP have the ability to "transform" themselves into FHA TOTAL Scorecard... and believe it or not, sometimes running an FHA loan through DU's FHA TOTAL will get a different response than LP's FHA TOTAL.

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Message 5 of 6
Established Contributor

Re: WHAT IS D U approval?


ShanetheMortgageMan wrote:

DU is a type of AU, like LP & FHA TOTAL are... confused?  Smiley Happy

 

DU is Fannie Mae's version of automated underwriting (AU), LP (LoanProspector) is Freddie Mac's... FHA TOTAL Scorecard is used when you are applying for an FHA loan, both DU & LP have the ability to "transform" themselves into FHA TOTAL Scorecard... and believe it or not, sometimes running an FHA loan through DU's FHA TOTAL will get a different response than LP's FHA TOTAL.


Awwwe! Geez...Shane. You did it again!

 

I seen this under  Risk/Eligibilty

 

1 This loan has been underwritten through DU for government loans using the FHA TOTAL Scorecard

 

This feels good!! Still no house of course!! Lol

 

HappySmiley Very Happy


Starting Score: 615
Current Score: 709
Goal Score: 750


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Message 6 of 6