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The term “Automated underwriting” means a computer-generated loan underwriting decision. It is mortgage lender's analysis of a new loan application using a computer program to collect all the information necessary to approve the loan application. Using completed loan application information, an automated underwriting systems retrieves relevant data, such as a borrower’s credit history, and arrives at a logic-based loan decision. Some applications may be referred to manual underwriting, and some inputs must be verified at a later date. Automated underwriting engines can provide near-instantaneous loan approval or denial decisions. Therefore, implementing automated underwriting systems can save a considerable amount of time, as manual underwriting can take as long as 60 days to complete. Moreover, automated underwriting is preferred because it is based on algorithms, eliminating human bias. Freddie Mac maintains and markets a large automated underwriting engine known as Loan Prospector, and Fannie Mae has an automated underwriting engine known as Desktop Underwriter.