BOSTON - Mercer Management Consulting on Tuesday released a study that it said showed that the automated underwriting systems of private mortgage insurers generate more loan approvals than those of Fannie Mae and Freddie Mac.

The study, which was commissioned by General Electric Mortgage Insurance Corp. of Raleigh, N.C.; United Guaranty Corp. of Greensboro, N.C.; and Winston-Salem, N.C.-based Republic Mortgage Insurance Corp., examined 153,265 loans. It found that mortgage insurance systems approved 9.75% more than the agencies' systems.

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