Automated Underwriting System for Mortgage, Consumer & SMB Lenders

Automated underwriting systems are software applications designed to receive inputs (typically from a home loan application), gather additional data (typically from a credit report) and return automated underwriting decisions on (1) the availability of financing, (2) the terms and pricing for the loan and (3) any conditions that may apply.  Common factors that are considered during the automated underwriting process include self-reported information from the home loan application and credit report data such as credit score, credit history and tradeline details. Some of the most commonly used AUS’s are Desktop Underwriter from Fannie Mae and Loan Prospector from Freddie Mac.

For example, if a loan officer receives a loan application for a home loan, they'll input the relevant information into an automated underwriting system, which will approve eligible borrowers for an underwritten mortgage loan, reject ineligible borrowers for a mortgage loan and, if applicable, request additional information in certain cases.  

No, DigiFi's system is different because we strive to make it easy to implement, test and deploy your own underwriting policy, rather than providing existing logic that you must use (in comparison to Fannie Mae and Freddie Mac, which provide logic for their own agency mortgage lending programs).

Nearly every type of lender can benefit from an AUS, but DigiFi's automated underwriting system is most commonly used for personal loans, auto loans, non-qualified mortgage loans (non-QM), HELOCs, credit cards and small business loans and lines of credit. If you're a commercial lender, automation typically starts with our Loan Origination System, and our AUS can be leveraged for smaller-dollar loan applications.

We offer fully customized integrations to a wide range of data providers. For example, you have the option to define unique variables to be calculated from raw credit report data during automated decisioning.

Yes, if your process is currently manual, we can help you translate existing, potentially ambiguous credit policies into rule-based workflows that can be automated. In certain cases, we'll also suggest third-party consulting firms that can help you make the transition from manual underwriting to automated underwriting.

Both options are available. We can implement and manage your credit underwriting process or you can appoint an internal loan officer or risk management professional to manage it yourself - it's completely up to you. If you would like DigiFi to do this, our in-house specialists perform this work in our offshore engineering center, and we're therefore able to offer low, fair rates to any lender that needs these services.