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An expert system for mortgages is a computer program that contains the knowledge and analytical skills of human authorities, related to mortgage banking. Loan departments are interested in expert systems for mortgages because of the growing cost of labor which makes the handling and acceptance of relatively small loans less profitable. They ...
Ellie Mae Inc., originally named Electronic Mortgage Affiliates, [1] is a software company that processes 35% of U.S. mortgage applications. [2] The services are based on a software as a service model (SaaS), [3] and specializes in originating and funding new mortgage loans and facilitating regulatory compliance.
Pro: A program designed to automate the mortgage-application process for professional loan officers. Mobile: A program that enables mortgage lenders to deliver real-time mortgage-pricing information to consumers in an easy-to-understand format that is optimized for mobile devices.
In most cases, a loan officer or mortgage broker will collect your information and submit it to an underwriting software system – Desktop Underwriter for a loan that will be sold to Fannie Mae ...
A mortgage accelerator loan can help you pay off your mortgage ahead of schedule, often through a line of credit or a biweekly payment setup. This type of loan might charge an annual fee and a ...
Each loan application consists of several stages, such as gathering required information and documents and assessing the applicant's information for approval. Because of the many steps involved, …
In the U.S. the mortgage underwriting processing is done by a software called Automated Underwriting System (AUS). There are 2 AUS systems, and algorithms designed for this purpose, the first one Desktop Underwriting (DU) is designed by Fannie Mae and Loan Prospector (LP) by Freddie Mac.
The primary role of a loan processor is to streamline the loan application process.So, no matter if you’re applying for a mortgage or auto loan, the loan processor can help you get your ducks in ...
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