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:
“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)
“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)