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Desktop Underwriter (DU) and Loan Prospector (LP): What they’ve been and Why They question

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Desktop Underwriter (DU) and Loan Prospector (LP): What they’ve been and Why They question

In the event that you’ve ever asked your agent or loan officer exactly what a DU or LP is, and then get a remedy that left you much more confused, you’re not the only one.

DU is short for Desktop Underwriter and LP is short for Loan Prospector. Both DU and LP are forms of automatic underwriting systems (AUS). Loan originators utilize DU and LP to ascertain whether that loan satisfies Fannie Mae or Freddie Mac’s eligibility demands which means that DU or LP approval is just a critical step towards shutting on a mortgage. Read More