Desktop Underwriter (DU) and Loan Prospector (LP): What they truly are and Why They thing
In the event that you’ve ever asked your agent or loan officer just what a DU or LP is, and then get a solution that left you much more confused, you’re perhaps not alone.
DU is short for Desktop Underwriter and LP stands for Loan Prospector. Both DU and LP are forms of automatic underwriting systems (AUS). Loan originators utilize DU and LP to find out whether that loan fulfills Fannie Mae or Freddie Mac’s eligibility demands which means that DU or LP approval is a step that is critical shutting on a home loan.