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Member
FREITES
Posts: 8
Registered: ‎02-12-2010
0

WHAT IS D U approval?

I have DU approval THIS IS GOOD SIGNAL?

Regular Contributor
Mark_in_Pasadena
Posts: 180
Registered: ‎12-11-2008
0

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.

 

 

Super Contributor
DallasLoanGuy
Posts: 6,350
Registered: ‎07-03-2007
0

Re: WHAT IS D U approval?

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

 

 

* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
Established Contributor
happy0510
Posts: 808
Registered: ‎03-07-2008
0

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!


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Current Score: 709
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Super Contributor
ShanetheMortgageMan
Posts: 8,254
Registered: ‎09-28-2007
0

Re: WHAT IS D U approval?

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

 

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.

Established Contributor
happy0510
Posts: 808
Registered: ‎03-07-2008
0

Re: WHAT IS D U approval?


ShanetheMortgageMan wrote:

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

 

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

 

Happy:smileyvery-happy:


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