What Is An Underwriter – What Do They Do?
What Does An Underwriter Do? An underwriter is the person at the mortgage lender who reviews and approves your mortgage application and file after it is processed by a loan processor. In order for your mortgage file to go to an underwriter for approval it should include all of your personal financial information like your pay stubs, bank statements, credit report, appraisal, mortgage application, sales contract and other relevant information to your mortgage file. The underwriter sorts through your information to make sure all the numbers match, like your debt to income ratio, and that your loan application makes sense. The underwriter also looks at your credit report to make sure it is ok. After all of this, the underwriter then compares your information with the qualification requirements of the mortgage loan program that you are trying to get. Underwriter Approves Loan Or Wants More Information If your information matches with the loan program requirements then you get approved for
