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Post Posted: Wed Jan 30, 2013 1:21 am    Post subject: Underwriting

What happens in underwriting? Do they just review or run numbers?
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Post Posted: Wed Jan 30, 2013 1:37 am    Post subject:

Underwiters play a crucial role in the mortgage industry. They actually judge the creditworthiness of a borrower based on certain financial parameters. As per the assessments of the underwriter, the mortgage lender decides whether or not to give loan to a particular borrower.
Icon Mini Profile sara

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Post Posted: Wed Jan 30, 2013 1:53 am    Post subject:

Hi Bellabell,

The mortgage underwriting process includes lot of paperwork. Once a mortgage loan processor has reviewed the documents, the mortgage file is transferred to an underwriter who decides the approval of the loan. The underwriter thoroughly reviews the documents, guidelines and input numbers into an underwriting software system to give final approval or denial of the mortgage loan.

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Icon Mini Profile mugofmine

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Post Posted: Wed Jan 30, 2013 11:05 pm    Post subject:

Mortgage underwriting in the United States is the process a lender uses to determine if the risk of offering a mortgage loan to a particular borrower under certain parameters is acceptable. Most of the risks and terms that underwriters consider fall under the three C’s of underwriting: credit, capacity and collateral.

If I may ask, are you currently applying for a home mortgage?
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Post Posted: Thu Jan 31, 2013 7:31 am    Post subject:

This is a process through which financial institutions (such as mortgage lenders) measure the eligibility of potential borrower.They do this to determine whether or not you're a good candidate for a loan. As a whole, this process is referred to as mortgage underwriting, and it has many steps.

A lot of first-time home buyers get the pre-approval mixed up with the final approval. They are two different things. Getting pre-approved by a mortgage lender is a worthwhile process. It lets you know how much they are willing to lend you. It will also make sellers more inclined to consider you're offer, since you have a lender all lined up (learn more).

But the pre-approval is not a commitment or guarantee to lend. There is still a lot that can go wrong between the pre-approval and the final approval. This is when the mortgage underwriting takes place.

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Icon Mini Profile katekelley12

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Post Posted: Fri Feb 01, 2013 5:54 am    Post subject:

Underwiters has a very important role in the mortgage loan industry. They judge the creditworthiness of the home buyer depending upon some financial parameters. Upon the assessment of the underwriter, the lender will decide if the borrower is capable for getting a home loan.
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