Mortgage Underwriting

Mortgage Underwriting is considered as the final step of the mortgage process because it determines the payment capability and creditworthiness of the person who has applied for a mortgage loan. All the Financial institutions employ underwriters for this final step as it is a very crucial step. Various automated software’s are used by banks and financial institutions that can apply or decline a loan application based on predetermined factors. It also speeds up the process. To analyse the repayment capability of the loan applicant underwriter only needs to enter the applicant’s information which is required like incomes, debts, and credit score etc.

Although the automation system has reduced and shortened the time which is taken for processing but it still does not ensure transparency in the loan review process. Still the fraudulent applications go through and the risk to financial institutions is increased. Each financial institution has its own process of underwriting. Underwriters have to follow the procedures and analyse wither to accept or reject the loan application. When you have a professional company to handle your mortgage underwriting needs, it not only helps in speeding up the process but also reduces the overhead cost

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Mortgage Underwriting Assistance We Provide

Loan Approval Check

When a loan is applied it need o meet a few parameters in order to get it passed. There are various Documents which are required like income statements, purchase agreements, supporting documents, credit scores etc to support applicant’s case. Our job is to make sure that all the conditions are met and the loan is approved

Underwriting Automation Software

We have a huge experience in working with various automated underwriting systems and software. All lending companies use these automated systems and software’s and it has become a norm now a days, what we do is, we will collect the documents from you and enter the data into our automated systems and the automated system will determine the loan application well be accepted or denied. Our software also tells what areas need attention to get the loan approval. We even make sure that the data is verified with the underwriting software.

Fraud Review

Banks take strict measures in order to avoid fraudulent loan applications. Sometimes even the genuine applications are rejected due to this and this can happen because of incorrect data submission or in case any information is left unfilled. Factors like conflicting address, AVM comps not matching with the property, Different cash transactions in various bank accounts, falsified data or huge deposits or withdrawals etc.

Title Support

Title monitoring checks if the collateral property is 'clean' and free from any dispute or lawsuits or any other legal claims. Title check looks for both major as well as minor details with respect to the title document and makes sure a smooth movement of the loan application to the next stage.

Appraisal Quality Control

The appraisal quality control includes the true value assessment of the property in question and the report is made by the underwriter, it also tells us about the veracity of the collateral documents that are provided to support the loan application.

The services that are included in the appraisal quality control are location maps, evaluation of the property’s sale history, appropriateness of the comparables, adjustments, etc., Our job does not end here, we also verify the appraiser’s signature, authenticity of the report and the license number etc.

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