Automated Underwriting Systems

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Chapter 2
Mortgage Credit Guidelines
Page 2-14

The process in which consideration for approval of the Automated Underwriting Systems (AUS) is addressed in Mortgagee Letter 96-34. It should be noted that Mortgagee Letter 98-14 announced FHA-approval of Freddie Mac’s Loan Prospector (LP) for use on FHA-insured mortgages.

Mortgagee Letter 99-26 announces the approval of Fannie Mae’s Desktop Underwriter. Page 3 (attached to Mortgagee Letter 98-14) of the 92900-A has been revised and is required for all loans underwritten by an AUS.

The complete feed back certificate/finding's report and credit report must be included in the case binder with each case submission. The feedback certificate should be placed on the top right hand side of the endorsement case binder.

Please see: HUD Mortgagee Letters: 96-34, 98-14, 99-26.