Finance
A Mississippi lender uses 'automated underwriting systems' (AUS) like Desktop Underwriter (DU) or Loan Product Advisor (LP). These systems:
AReplace all human judgment in lending decisions
BAnalyze loan data against Fannie Mae/Freddie Mac guidelines and provide automated approval recommendations with specific conditions, speeding the underwriting process✓ Correct
COnly evaluate the property's condition
DAre required for all mortgage loans in Mississippi
Explanation
Automated underwriting systems (DU for Fannie Mae, LP for Freddie Mac) analyze borrower credit, income, assets, and property data against GSE guidelines and issue automated findings (Approve/Eligible, Refer, etc.) with specific conditions.
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