Automated Underwriting

A process in which a computer program reviews relevant information in a loan application and makes a decision based on the method built into it. For example, automated underwriting may make a decision automatically based on the applicant's credit history, income, and the amount asked. Difficult decisions may be referred to human underwriters. Automated underwriting is believed to be more efficient and less biased than human underwriting. It is used especially for mortgages.

Automated Underwriting

A computer-driven process for informing the loan applicant very quickly, sometimes within a few minutes, whether the application will be approved, denied, or forwarded to an underwriter.

The quick decision is based on information provided by the applicant that is subject to later verification and other information obtained electronically, including information about the borrower's credit history and the subject property.

单词	automated underwriting
释义	Automated Underwriting Automated Underwriting A process in which a computer program reviews relevant information in a loan application and makes a decision based on the method built into it. For example, automated underwriting may make a decision automatically based on the applicant's credit history, income, and the amount asked. Difficult decisions may be referred to human underwriters. Automated underwriting is believed to be more efficient and less biased than human underwriting. It is used especially for mortgages. Automated Underwriting A computer-driven process for informing the loan applicant very quickly, sometimes within a few minutes, whether the application will be approved, denied, or forwarded to an underwriter. The quick decision is based on information provided by the applicant that is subject to later verification and other information obtained electronically, including information about the borrower's credit history and the subject property.
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