Cloudvirga introduces single-click, dual-AUS submission of loan data to both GSEs’ AUSs (RobChrisman.com)
Apr 17, 2018
Kyle Kamrooz of Cloudvirga writes: “Automated Underwriting Systems (AUS) take different approaches when it comes to analyzing mortgage application data and returning feedback on the basis of which lenders can originate mortgage loans. For loan teams who find themselves wondering, ‘should I run this loan file through Loan Product Advisor® or Desktop Underwriter?’ my response is, ‘why not both?’
Cloudvirga is pleased to introduce single-click, dual-AUS submission of loan data to both GSEs’ AUSs – with no separate log-ins and no extra screens. Our mortgage point-of-sale (POS) software works behind the scenes to run loan data through both AUSs concurrently, without adding manual review tasks or interrupting a loan team’s preferred origination workflow. This industry-first feature responds to the industry’s need for greater loan fungibility in the secondary market by letting lenders decide on a per-transaction basis what path is best for a given loan. Loan teams increase their odds of getting GSE feedback in one location while eliminating the 10 different screens and separate logins typically required to run both Loan Product Advisor and Desktop Underwriter. And borrowers benefit, too, because dual-AUS submission can uncover opportunities like an appraisal waiver that’s available on certain loans through one GSE but not the other. Those kinds of discoveries can save borrowers time and money and make loan teams into superheroes.