Underwriters are the risk experts of the financial
world. Lenders and mortgage companies rely on
them to determine if a lending risk is worth taking.
Mortgage loans are approved based on a combina-
tion of an applicant’s income, credit history, debt
ratios and savings, and underwriters ensure that
borrowers meet all of these requirements. Under-
writers also review property appraisals to ensure
they are accurate and that each home is worth the
purchase price and loan amount.
More importantly, for mortgage originators, under- writers have the power to approve or deny loans. It’s a big, important job, and originators should do all they can to make this job easier. To build allies in the underwriting department, you need to decide if you are going to be a “risk” or a “reward” for your underwriters. > > >
Originators should learn
to stay on the right side
of their underwriters