How a non-agency AUS works
Imagine a self-employed borrower on a 24-month bank-statement program. The steps are the same for DSCR or asset depletion. Only the rules change.
Follow one file
Intake. The LOS or a scenario form collects the product, the investor, and the file.
Data in. Credit, income (from statements or a document-AI partner), assets, property, and the documentation type.
Guideline evaluation. AUS runs the rule set for that product, channel, and investor. Expense factor, NSF treatment, credit floor, LTV, reserves. Every check is a rule you can open.
Findings report. Approve, review, or rejected. Each line cites the guideline. This is the AUS findings report for a world that never had one.
Conditions. What still has to clear: updated statements, a CPA letter, an appraisal condition. The engine generated them. People fulfill them.
Exception path. If a rule refers, a person grants or denies the exception. The grant is recorded. The file is still explainable.
Clear to close. When conditions are satisfied, the file leaves decisioning and finishes in the LOS. The AUS does not replace the closer.
What the same seven steps look like on a desk
On a desk, guideline evaluation, findings, and conditions are a days-long email chain. On an engine, the first finding comes back in real time. People only work the exception.
How an AUS underwrites a bank-statement file
What to demand from a modern AUS
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