step three. Whenever a financial institution uses no less than one automated underwriting assistance (AUS) to evaluate the application form additionally the program or possibilities create two or maybe more results, the financial institution complies with 1003.4(a)(35) of the revealing, with the exception of bought safeguarded finance, the name of your AUS utilized by the financial institution to evaluate the application plus the influence generated by one to AUS as the dependent on the following standards. To see which AUS (or AUSs) and you can influence (otherwise performance) to help you statement not as much as 1003.4(a)(35), a financial institution observe all the beliefs which is relevant to your app concerned, on acquisition in which he’s established less than.
If the a lending institution get several AUS performance and you may several of them AUS abilities is established by a great system one to corresponds to the loan types of reported pursuant so you’re able to 1003
we. 4(a)(2), the financial institution complies having 1003.4(a)(35) by the revealing one AUS label and you will effect. Instance, in the event that a lending institution evaluates a software making use of the Federal Casing Administration’s (FHA) Tech Open to Accepted Lenders (TOTAL) Scorecard and then assesses the application form that have an enthusiastic AUS accustomed influence qualification to own a low-FHA financing, however, eventually develop an enthusiastic FHA loan, the financial institution complies with 1003.4(a)(35) by reporting Overall Scorecard while the result made by one program. 4(a)(2), the lending company describes and therefore AUS result might be reported of the adopting the principle established less than during the remark cuatro(a)(step three5)-3.ii.
ii. If the a financial institution gets a couple of AUS results and you can the AUS promoting those types of abilities corresponds to the purchaser, insurance provider, or guarantor, if any, the lending company complies with 1003.4(a)(35) of the reporting one AUS title and you will results. Including, if the a financial institution evaluates a credit card applicatoin on AUS from Securitizer An excellent and you may after that evaluates the applying to the AUS out of Securitizer https://paydayloanalabama.com/excel/ B, but the financial institution sooner or later starts a secured mortgage so it sells during the exact same calendar year to help you Securitizer A good, the lending company complies which have 1003.4(a)(35) because of the revealing the name out-of Securitizer A’s AUS while the impact from one system. In the event the a lending institution gets two or more AUS efficiency and one or more of those AUS performance is made by good system that corresponds to new purchaser, insurance provider, otherwise guarantor, or no, the lending company refers to hence AUS effects should be said by following concept set forth below in opinion cuatro(a)(step three5)-3.iii.
If the a lender get a couple of AUS abilities and you will the newest AUS generating those types of abilities corresponds to the loan method of claimed pursuant to 1003
iii. If the a lender get 2 or more AUS efficiency and you can not one of your assistance creating those individuals overall performance match the fresh new consumer, insurance company, otherwise guarantor, if any, or even the lender was following this principle while the over one AUS result is created by a network you to represents both the borrowed funds form of or perhaps the consumer, insurance carrier, or guarantor, the financial institution complies with 1003.4(a)(35) because of the reporting the new AUS result made closest eventually on the borrowing elizabeth of the AUS that produced one to influence. Instance, if a lender evaluates a software to the AUS away from Securitizer A beneficial, after that once again evaluates the program which have Securitizer A’s AUS, the lending company complies having 1003.4(a)(35) from the reporting title out-of Securitizer A’s AUS plus the 2nd AUS impact. Similarly, if the a financial institution receives a result from an enthusiastic AUS one to necessitates the standard bank so you’re able to underwrite the mortgage yourself, but the financial institution then techniques the program owing to yet another AUS that can creates an effect, the financial institution complies having 1003.4(a)(35) because of the revealing the name of your second AUS that it made use of to check the program plus the AUS impact made by one to system.