UBS Investment Bank Launches Automated Mortgage Underwriting Engine.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System announced today that its Investment Bank has launched a new Automated Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Engine (AUE AUE alt.usage.english (usenet) AUE Aalborg University Esbjerg (Denmark) AUE Association of Underwater Explorers (technical deep divers) AUE Alarm User Error ) for mortgage loans on its Whole Loan Conduit platform. Using a sophisticated artificial intelligence system, the UBS AUE is capable of instantly analyzing a mortgage loan application to provide correspondent loan sellers with a consistent and reliable underwriting decision. The engine allows increased flexibility in the analysis of loans, taking into account loan characteristics that compensate for minor shortcomings A shortcoming is a character flaw. Shortcomings may also be:
Initially, the system is designed to review prime and ALT-A first lien loans. In early 2006, the system will be expanded to include a sub-prime and second lien loan A Second Lien Loan is a simple loan with a subordinated security (finance) structure or no security at all (unsecured debt), meaning that the borrower grants another provider of a finance instrument (eg. models as well. "The major advantage for our clients is that they will know immediately if the loan is eligible for sale to UBS without having to guess or wait," said Peter Slagowitz, Managing Director and Head of Loan Conduits. "Clients that use this service will notice just how much this expedites the loan fulfillment process." UBS is one of the world's leading financial firms, serving a discerning client base. As an organization, it combines financial strength with a culture that embraces change. UBS is the world's largest wealth manager, a top tier investment banking and securities firm, and a key global asset manager. In Switzerland, UBS is the market leader in retail and commercial banking. UBS, headquartered in Zurich and Basel, is present in all major financial centers worldwide. It has offices in 50 countries, with 39% of its employees working in the Americas, 38% in Switzerland, 16% in Europe and 7% in the Asia Pacific time zone. UBS's financial businesses employ over 70,000 people worldwide. |
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