Custom DU - A Web Based Business User Driven Automated Underwriting System

AAAI Conferences

Custom DU is an automated underwriting system that enables mortgage lenders to build their own business rules that facilitate assessing borrower eligibility for different mortgage products. Developed by Fannie Mae, Custom DU has been used since 2004 by several lenders to automate the underwriting of numerous mortgage products. Custom DU uses rule specification language techniques and a web-based, user-friendly interface for implementing business rules that represent business policy. Via the user interface, lenders can also customize their underwriting findings reports, test the rules that they have defined and publish changes to business rules on a real-time basis, all without any software modifications. The user interface enforces structure and consistency, enabling business users to focus on their underwriting guidelines when converting their business policy to rules. Once a lender has created their rules, loans are routed to the appropriate rulesets and customized, but consistent results are always returned to the lender. Using Custom DU, lenders can create different rulesets for their products and assign them to different channels of the business, allowing for centralized control of underwriting policies and procedures - even if lenders have decentralized operations.


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AAAI Conferences

Fannie Mae, the nation's largest source of conventional mortgage funds, has made a commitment to use technology to improve the efficiency of processing a loan by reducing the time, paperwork and cost associated with loan origination. The Desktop Underwriter (DU) system which was developed as a result of this commitment, is an automated underwriting expert system that applies both heuristics and statistics to the problem. The system supports both the wholesale and retail mortgage environments and is built to reason and underwrite loans with incomplete, unverified and conflicting data. The system generates a credit recommendation based on the loan's conformity to credit standards and an eligibility recommendation based on the loan's conformity to eligibility


Custom DU--A Web-Based Business User-Driven Automated Underwriting System

AI Magazine

Custom DU is an automated underwriting system that enables mortgage lenders to build their own business rules that facilitate assessing borrower eligibility for different mortgage products. Developed by Fannie Mae, Custom DU has been used since 2004 by several lenders to automate the underwriting of numerous mortgage products. Custom DU uses rule specification language techniques and a web-based, user-friendly interface for implementing business rules that represent business policy. By means of the user interface, lenders can also customize their underwriting findings reports, test the rules that they have defined, and publish changes to business rules on a real-time basis, all without any software modifications. The user interface enforces structure and consistency, enabling business users to focus on their underwriting guidelines when converting their business policy to rules.


Custom DU: A Web-Based Business User-Driven Automated Underwriting System

AI Magazine

Custom DU is an automated underwriting system that enables mortgage lenders to build their own business rules that facilitate assessing borrower eligibility for different mortgage products. Developed by Fannie Mae, Custom DU has been used since 2004 by several lenders to automate the underwriting of numerous mortgage products. Custom DU uses rule specification language techniques and a web-based, user-friendly interface for implementing business rules that represent business policy. By means of the user interface, lenders can also customize their underwriting findings reports, test the rules that they have defined, and publish changes to business rules on a real-time basis, all without any software modifications. The user interface enforces structure and consistency, enabling business users to focus on their underwriting guidelines when converting their business policy to rules. Once lenders have created their rules, loans are routed to the appropriate rule sets, and customized, but consistent, results are always returned to the lender. Using Custom DU, lenders can create different rule sets for their products and assign them to different channels of the business, allowing for centralized control of underwriting policies and procedures—even if lenders have decentralized operations.


anagi KARMA: Specification to Imphxnentation

AAAI Conferences

Fannie Mae is a congressionally chartered, shareholderowned company and the nation's largest source of conventional home mortgage funds. Fannie Mae purchases and securitizes loans and is considered the leader in the secondary mortgage market. Because of its strong leadership role, Fannie Mae's policies for loan eligibility set the standard in the mortgage industry and applying these policies consistently and effectively is critical to Fannie Mae's mission and profitability. Fannie Mae's policies for selling and servicing mortgage loans span the business functions of the secondary mortgage market and therefore are contained in many different software applications. Managing policy across multiple business applications became increasingly complex.