3. When a lender uses one or more automatic underwriting options (AUS) to check the program in addition to system otherwise expertise make two or more abilities, the lending company complies that have 1003.4(a)(35) by revealing, apart from bought covered funds, title of AUS employed by the lending company so you’re able to gauge the application and also the impact from you to AUS as determined by the following standards. To determine what AUS (or AUSs) and effect (otherwise efficiency) in order to report less than 1003.4(a)(35), a lending institution comes after each of the beliefs which is relevant on application involved, in the purchase where he’s established lower than.

In the event that a lender get a couple of AUS show and you can several of them AUS performance is created by the a system one corresponds to the borrowed funds method of reported pursuant so you’re able to 1003

i. 4(a)(2), the financial institution complies having 1003.4(a)(35) because of the reporting that AUS label and you may results. For example, in the event the a lender assesses a credit card applicatoin making use of the Federal Housing Administration’s (FHA) Technical Available to Acknowledged Loan providers (TOTAL) Scorecard and subsequently evaluates the application having an AUS always dictate qualification having a non-FHA mortgage, however, at some point starts an FHA mortgage, the lending company complies with 1003.4(a)(35) from the revealing Overall Scorecard together with results made by one system. 4(a)(2), the lending company identifies and that AUS results would be claimed of the following idea set forth lower than during the comment 4(a)(step three5)-step 3.ii.

ii. When the a lending institution gets 2 or more AUS show and the fresh new AUS generating those types of overall performance corresponds to the fresh purchaser, insurance provider, otherwise guarantor, or no, the financial institution complies with 1003.4(a)(35) because of the revealing one to AUS identity and you can impact. Like, if the a loan company evaluates a credit card applicatoin for the AUS off Securitizer An effective and you can then assesses the program to the AUS regarding Securitizer B, however the lender in the course of time develop a protected mortgage which carries in the same calendar year to help you Securitizer An excellent, the financial institution complies which have 1003.4(a)(35) of the revealing title out-of Securitizer A’s AUS and the effects created by that program. In the event the a loan company get a couple of AUS efficiency and you can more than one of them AUS results is made from the a beneficial program that represents the customer, insurer, or guarantor, or no, the lending company makes reference to and therefore AUS influence are going to be said because of the following idea set forth lower than for the opinion cuatro(a)(step 35)-step 3.iii.

When the a lending institution gets 2 or more AUS efficiency and you can new AUS creating those types of overall performance corresponds to the mortgage type of claimed pursuant to 1003

iii. If a lender gets two or more AUS results and you can nothing of your assistance promoting the individuals overall performance match the new consumer, insurance carrier, otherwise guarantor, or no, and/or financial institution try following this principle because more than you to AUS outcome is made by a network you to definitely corresponds to both the mortgage sorts of or even the consumer, insurance company, otherwise guarantor, the lending company complies that have 1003.4(a)(35) by the revealing the fresh AUS loans in Leighton result generated closest over the years to the borrowing age of the AUS you to produced that result. Including, when the a loan company evaluates a credit card applicatoin towards AUS out of Securitizer A beneficial, next once more assesses the application form having Securitizer A’s AUS, the bank complies that have 1003.4(a)(35) from the revealing the name away from Securitizer A’s AUS and the 2nd AUS effect. Similarly, if a loan company get an originate from an enthusiastic AUS you to definitely necessitates the financial institution so you’re able to underwrite the mortgage yourself, but the financial institution then procedure the application using another AUS that also yields a result, the lending company complies that have 1003.4(a)(35) because of the reporting title of the next AUS which used to evaluate the application as well as the AUS effect from that program.