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Average Underwriting Time Shortened to 30 Minutes with Total Automated Underwriting System (TAUS)


Loan File Intelligent Review System, LLC (LFIRS) announced the launch of Total Automated Underwriting System (TAUS), an advanced platform that goes far beyond the capabilities of the commonly used Auto Underwriting Systems to layers in specific criteria and conditions from investors and lenders.

“This is huge. It’s an industry disruptor,” said Lee Walsh, VP Operations at DG Pinnacle Funding, LLC, whose company has been beta-testing TAUS for the past six months. “Loan officers can take a 4-page, basic application and have it completely underwritten in the buyer’s living room.”

But loan officers aren’t the only ones to benefit from TAUS. Lenders and loan fulfillment providers will see a dramatic reduction in workload as overlays and conditions are automatically applied to their files.

TAUS is the result of years of collaboration between mortgage industry professionals and software engineers who previously worked for NASA, Boeing, Citrix and other top-level companies.

It uses a mortgage-intelligence system that takes loan-file data and matches the appropriate investor guidelines to automatically create the necessary conditions for approval.

After inputting the borrower information into the easy-to-use interface, the TAUS system completes calculations and conditions in fractions of a second.

Underwriters simply review and adjust the inputs and the underwrite is 90% complete.

“The average underwriter completes 2-3 files per day. With TAUS, they’ll be able to easily underwrite 4-5,” said Ewintario Nielsen, COO of LFIRS. “Top performers can underwrite up to 8 files in a single day.”

About Loan File Intelligent Review System, LLC

LFIRS was founded by mortgage professionals in collaboration with software engineers from NASA, Boeing, Citrix and other top-level companies. LFIRS systems provide easy-to-use interfaces powered by the LFIRS mortgage rules engine. The conditions are customized to each client’s investor pool, providing their clients the solution they have been looking for to better compete in today’s marketplace.

For more information, please contact Ewintario Nielsen at sales@LFIRS.com or call (321) 222-3150.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170203005043/en/