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:
“People stress the violence. That’s the smallest part of it. Football is brutal only from a distance. In the middle of it there’s a calm, a tranquility. The players accept pain. There’s a sense of order even at the end of a running play with bodies stewn everywhere. When the systems interlock, there’s a satisfaction to the game that can’t be duplicated. There’s a harmony.”
—Don Delillo (b. 1926)
“What avails it that you are a Christian, if you are not purer than the heathen, if you deny yourself no more, if you are not more religious? I know of many systems of religion esteemed heathenish whose precepts fill the reader with shame, and provoke him to new endeavors, though it be to the performance of rites merely.”
—Henry David Thoreau (1817–1862)