IT Systems
Banks generally use IT systems available from various vendors to record and analyze the information, and these systems have proliferated. Here's a primer on what many of them mean. These include the "loan origination system" (also called a loan operating system) (LOS) as well as other tools such as Fannie Mae and Freddie Mac's automated underwriting systems the "Desktop Underwriter" and "Loan Prospector". One example of a LOS is Fiserv's UniFi PRO.
Read more about this topic: Mortgage Underwriting In The United States
Famous quotes containing the word systems:
“I am beginning to suspect all elaborate and special systems of education. They seem to me to be built up on the supposition that every child is a kind of idiot who must be taught to think.”
—Anne Sullivan (1866–1936)
“The skylines lit up at dead of night, the air- conditioning systems cooling empty hotels in the desert and artificial light in the middle of the day all have something both demented and admirable about them. The mindless luxury of a rich civilization, and yet of a civilization perhaps as scared to see the lights go out as was the hunter in his primitive night.”
—Jean Baudrillard (b. 1929)