Step Nine – AUS Run
I am sure that most people have heard the term “measure twice cut once” while working on any construction or fabrication project. That is the best way I can summarize step nine.
Personally I don’t see the point in updating each part of the loan and running the AUS at each section. Remember this whole 10 step process I am going through, all ties together. For the computer “brain” that runs the AUS engine all these steps are tied together also. I can tell you of the thousands of examples where I have changed one component and either LOST or GAINED an approval!
For example I have had an approve eligible but when the actual bank statements were sent in the borrower did not have as much money as the application stated, which meant reserves went down and then the approval was lost over that one point!!
So this step, really simple, underwrite the entire loan get as much data accurate as possible then run the AUS, saves times, saves hassles!!