Point User Guide
247
Tracking underwriting status
7
Complete the
Automated Underwriting
section.
a
Enter the type of Automated Underwriting System (for example, DO or LP), the
date the AUS was run, AUS decision, and any cost associated with the AUS run.
Up to four automated underwriting decisions are allowed. If the AUS decision
includes conditions, enter those conditions in the
Banker > Conditions
screen by
copying and pasting the information from the underwriting findings.
The AUS costs are totaled in the
Total
AUS
field.
After you, the underwriter, receive the file, review the
Lock
Exp
Date
field. If the
field is populated, the loan was locked and the investor field should contain the
investor’s name. If you receive the file before the rate lock, enter the investor’s
name when you receive it. You can then underwrite the loan to conform to that
investor’s standards.
b
Enter the
Underwriting
Fee
.
The underwriting fee is the actual cost to the banker of underwriting the loan.
Tip
Access the
Conditions
screen directly from the
Underwriting
screen by
clicking the
Conditions
button at the bottom of the workspace.
