step three. When a lending institution spends a minumum of one automated underwriting possibilities (AUS) to check the program as well as the system otherwise expertise make a few or even more efficiency, the financial institution complies that have 1003.4(a)(35) by the revealing, apart from bought shielded funds, the name of your own AUS employed by the bank to help you gauge the software together with impact produced by you to definitely AUS once the determined by next prices. To see which AUS (or AUSs) and you may influence (otherwise overall performance) so you can report around 1003.4(a)(35), a lender comes after each of the principles that’s relevant towards application under consideration, regarding the purchase where they are set forth less than.
In the event the a financial institution obtains several AUS overall performance and you can several of those AUS results is established by a system one to represents the loan particular reported pursuant so you’re able to 1003
i. 4(a)(2), the bank complies having 1003.4(a)(35) by the revealing one AUS label and influence. Such as, when the a financial institution evaluates a loan application with the Federal Homes Administration’s (FHA) Technology Offered to Recognized Loan providers (TOTAL) Scorecard and you will next assesses the application which have a keen AUS accustomed influence qualifications to try here have a non-FHA loan, but sooner or later develop an enthusiastic FHA loan, the bank complies with 1003.4(a)(35) of the reporting Complete Scorecard additionally the effect from you to system. 4(a)(2), the bank identifies which AUS effects will likely be said by the pursuing the principle set forth lower than during the review cuatro(a)(35)-3.ii.
ii. If the a lending institution receives a couple of AUS results and you may the latest AUS creating one particular performance represents this new customer, insurance company, or guarantor, or no, the financial institution complies with 1003.4(a)(35) because of the revealing you to definitely AUS label and you can results. Such as for instance, if a lender assesses an application into the AUS out of Securitizer Good and you can then evaluates the application to your AUS away from Securitizer B, although financial institution in the course of time originates a covered loan which carries within the exact same calendar year to help you Securitizer A great, the financial institution complies having 1003.4(a)(35) because of the reporting title out-of Securitizer A’s AUS and also the results created by you to system. If the a financial institution get two or more AUS results and you will several of these AUS overall performance is generated by a good program you to represents the new purchaser, insurance company, otherwise guarantor, or no, the bank relates to which AUS effect can be advertised by following the principle set forth less than within the comment cuatro(a)(step 35)-step three.iii.
If the a lender get a couple of AUS overall performance and the new AUS producing some of those show represents the loan kind of reported pursuant so you’re able to 1003
iii. If a lending institution gets several AUS overall performance and you can not one of the assistance promoting those individuals performance correspond to the fresh purchaser, insurer, or guarantor, or no, or the standard bank are following this principle while the over one AUS outcome is created by a system you to corresponds to either the loan type or perhaps the buyer, insurance carrier, or guarantor, the bank complies which have 1003.4(a)(35) because of the reporting the new AUS result made closest in time towards the borrowing from the bank age of one’s AUS you to definitely made that effect. Including, if the a financial institution assesses a software for the AUS from Securitizer Good, next once again assesses the program having Securitizer A’s AUS, the lending company complies which have 1003.4(a)(35) because of the reporting the name of Securitizer A’s AUS while the 2nd AUS impact. Likewise, if the a financial institution get a result from an AUS that necessitates the financial institution so you’re able to underwrite the borrowed funds by hand, nevertheless the standard bank subsequently techniques the application because of another AUS that can produces an effect, the bank complies having 1003.4(a)(35) of the reporting the name of the second AUS it made use of to check on the application form and also the AUS results produced by that program.