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:
“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)
“No civilization ... would ever have been possible without a framework of stability, to provide the wherein for the flux of change. Foremost among the stabilizing factors, more enduring than customs, manners and traditions, are the legal systems that regulate our life in the world and our daily affairs with each other.”
—Hannah Arendt (1906–1975)