Definitions for "Automated Underwriting"
A computer – based method that enables mortgage lenders to process loan applications more quickly by using credit – risk scores and other loan application data to make a recommendation on whether or not to extend a mortgage loan.
A computer-base (automated) underwriting system that helps mortgage lenders collect and analyze information needed to process mortgage loan applications."B" or "C" Loan A loan that reflects less than the best possible interest rate, terms and conditions.  Consumers with impaired credit may be offered "B" or "C" loans.  These loans always impose higher interest rates and fees and should be closely scrutinized.
The process of approving of a mortgage loan using sophisticated computer models by entering a consumers credit profile and other important property information into a secure electronic database. Loans, which are approved by automated underwriting, still must be underwritten.
Technology that assesses mortgage risk based on an individual borrower's profile.