Posted on: 05th Apr, 2009 12:15 am
What is a DU and does that qualify as a loan commitment?
Hi
As far as I'm aware of, DU refers to the desktop underwriting which is an automated underwriting system. This helps reduce the amount of time needed to underwrite a mortgage loan application. It does qualify as a loan commitment. A fully documented loan commitment for a conventional loan can be prepared in about a week or two through DU.
As far as I'm aware of, DU refers to the desktop underwriting which is an automated underwriting system. This helps reduce the amount of time needed to underwrite a mortgage loan application. It does qualify as a loan commitment. A fully documented loan commitment for a conventional loan can be prepared in about a week or two through DU.