Purchased protected financing

4. Part 1003.4(a)(35) does not require a lending institution to evaluate a loan application using an automatic underwriting program (AUS), once the discussed within the 1003.4(a)(35)(ii). Such as for example, in the event that a loan company simply yourself underwrites a software and you may really does not have fun with an AUS to test the program, the financial institution complies that have 1003.4(a)(35) by reporting the needs isnt appropriate while the an AUS was not used to assess the app.

5. A lending institution complies with 1003.4(a)(35) by revealing that the requisite is not relevant when the protected loan are a covered covered mortgage.

six. Non-natural people. If applicant and you may co-candidate, in the event that applicable, are not absolute people, a lending institution complies with 1003.4(a)(35) because of the revealing the criteria isnt relevant. Weiterlesen