Key Decision Management Definitions (as arrived at by CC Pace)

Automated Underwriting System (AUS): A system that provides a full credit decision and loan specific conditions, based on the data provided and a trusted credit report, which carries the same weight as a human underwriter’s decision. It is subject to income, property and other data verification. It answers the questions: “Is this loan approved? What do I have to do?

Product, Pricing & Eligibility Engine (PPE): A query showing the products a loan is eligible for, and the current pricing (rate/point combos) for a selected product. “Assuming that this loan is approved, what product and price can I offer the customer?”

Decisioning System:  A combination of PreQual, PPE and AU tools.

Read More Here: www.loan-score.com/newsandevents/trendsandperspectives/aus.html