Let’s talk Underwriting

So, what is Underwriting all about?

Underwriting is the process that pulls the entire loan together. The Underwriter is the gatekeeper between the borrower and the lender. They review all documents, request anything that may be missing, and give the final stamp of approval on the completed loan package.

 

Underwriters usually weigh the application documentation and data against guidelines or a rulebook — conditions under which the loan can be approved. An Underwriter will only sign off on the loan if it meets the required standards.

 

There are many technologies and systems available which help make the Underwriting process faster and smoother for mortgage lenders. Automated Underwriting systems help streamline the process from the very beginning by analyzing exactly what is needed in order to get the loan approved. Through utilizing technology, lenders are able to analyze data faster, Underwrite to various guidelines easier, and know what conditions or needs may come up prior to the official Underwriter review.

Underwriting Benefits

For Mortgage Professionals

Speedy Closing

When Underwriters receive incomplete or imperfect information, the closing can be significantly delayed, inconveniencing the borrower, seller, and agent. Time is money, and underwriting automation saves both.

Unified Process

Underwriting automation unifies a fragmented process, reducing time-consuming and costly back-and-forth between the Underwriter and the borrower.

Efficient Use of Resources

The Underwriter is often the highest-paid employee on the mortgage team. Improving their efficiency and productivity is a high-margin investment.

Stay on the pulse of Underwriting

Get our latest resources, industry insights, and new technologies delivered to your inbox.

Mortgage Specific Underwriting Companies

C2 Covalent
CoreLogic

Clear Capital
FUNDINGO
Gateless

INSLY

LendingFront
MeridianLink
MGIC Elements

FOR YOU

Underwriting Resources

  • Whitepapers
Whitepaper-choosing a right tech vendor@2x

Choosing the Right Technology Vendor

We go through the complete decision-making process when choosing the right technology vendors, helping you make the most of every step.

ON OUR BLOG

Underwriting Insights

Blog-Closing the LendingGap with AI and ML

Closing the Lending Gap with AI and ML

Prior to the Covid-19 pandemic, the financial industry was already evolving at a rapid pace, mainly driven by evolving customer expectations, advancement in technology, and

Hey There Innovator!

We’re excited to chat with you, simply fill out the following information and we will be in touch shortly!