Submit to Automated Underwriting
Step |
Action |
1 |
To run DU or LP findings on a loan, click Loan Processing to open the menu and select Automated Underwriting. |
2 |
Select Fannie Mae (DU) or Freddie Mac (LPA) and click the Credentials button. Note: Broker must be sponsored by HBFS to submit loans to LPA. Contact your AE regarding HBFS sponsorship. |
3 |
· Select the Credit Agency from the dropdown, · Enter your login credentials, · Enter the credit report Reference #. · Click Ok. To Submit to LPA:
Click Ok Notes:
Always choose to not auto-populate from the credit report |
4 |
Click the Send Request button to submit. |
5 |
To request a Reissue, enter the DU Case File ID and select AUS Only. |
6 |
The agency will return a decision and the Response Files will populate. Results will return in the applicable summary section below. Click hyperlink to review Findings/Feedback or Credit Report.
Click the Underwriting Findings Html link to review or print the findings.
· Enter Gifts as an asset ('Full Application', then 'Assets' ) for DU to capture the gift information in the findings. · You can also review or print the Borrower’s credit report by clicking the link. |
Updated/Expired Credit
If a loan requires updated credit, follow the steps below to upload new credit into the Broker Portal and send to REMN. Once a loan file is received by the Operations Center, the Broker can no longer update the Borrowers credit report. If updates are required, contact your Account Coordinator to have the file returned to the Broker Portal. |
|
Step |
Action |
1 |
To update the credit report, click Loan Processing to open the menu and select Automated Underwriting. |
2 |
• Select Fannie Mae (DU) or Freddie Mac (LPA) |
3 |
• Select the Credit Agency from the dropdown,
NOTE: Always choose to not auto-populate from the credit report. |
4 |
Click the Send Request button to submit. |
5 |
Scroll to the bottom of your screen and click the Return to Lender button. |
6 |
Click Yes to confirm that you wish to send the loan back to the Lender. You will be returned to the Portal Dashboard. |
7 |
After the updated credit report and AUS are returned to REMN, the new credit report must be marked current and the liabilities will be reconciled by a REMN associate. |
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