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Article: Up and running. (automated underwriting of loans)(includes related article)(Mortgage Technology: Reaching the New Consumer)(Cover Story)
- Article from:
- Mortgage Banking
- Article date:
- May 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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How three lenders front lines of the automated underwriting revolution are reducing costs, adding customers, energizing loan processors and getting a competitive head start on the 21st century.
Five years ago, before mortgage technology became an industry buzzword, three lenders were already planning to automate their underwriting operations. since then:
* NationsBanc Mortgage Corporation, the nation's eighth-biggest mortgage lender, completely restructured its operations and training programs around an automated underwriting system that can process 100 percent of its originations. After it was implemented, the system took only two months to cut ...