AU Scoring was developed in cooperation with Freddie Mac to provide an automated underwriting decision when a loan is posted on IMX Exchange. Using the information normally provided to post a loan plus a few additional facts, AU Scoring interfaces with Freddie Mac Loan Prospector to provide a standard assessment of the loan’s overall risk. It provides the following scores and reports:
LP Evaluation Status — indicates the state of the AU Scoring process
LP Credit Risk Class — indicates the risk associated with the loan
LP Documentation Class — indicates the minimum level of documentation needed to underwrite the loan
LP Purchase Eligibility — indicates whether, and under what conditions, Freddie Mac will purchase a loan
LP Feedback Certificate — contains details about the loan and the results generated by Loan Prospector
AU Scoring accepts a wide variety of loans. Any conforming fixed or adjustable rate loan product that is eligible for sale to Freddie Mac can be processed.