Minimal Information needed to run DU

Minimal Information needed to run DU

 Here are the loan parameters that need to be completed in the loan file in order to receive DU results:

  1. Borrower details must be supplied: borrower's name, social security number, and birthdate.
  2. Credit must be ordered.
    • You will need to enter the borrower's current address in order to run credit.
  3. Property Info must be entered.
  4. A program must be selected through pricing.
    • Ensure that core transaction details have been entered in the Borrower PreQual activity in order to get pricing (i.e. loan type, occupancy, etc.).
  5. Income info must be entered.
  6. Present monthly housing expenses must be entered.
  7. Assets must be supplied.
    • For checking/savings/retirement/stocks - just choose the account type and dollar amount.
  8. Liabilities must be entered (if any).
    • If there is a mortgage, it must be associated with an REO.
  9. Declarations must be completed.
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