Mortgage Processing And Underwriting

This Article Is About The Easy Online Mortgage Pre Approval Letter For Home Buyers The mortgage industry has changed drastically since the Subprime Mortgage And Real Estate Meltdown of 2008. Brick and mortar offices are becoming more and more extinct. Online mortgage banking seems to be the new trend in the mortgage loan origination business…

This Article Is About A Pre-Approval Versus Loan Commitment During Mortgage Process Many first-time home buyers often ask What Is The Difference Between Pre-Approval Versus Loan Commitment. Homebuyer starting house shopping would need a pre-approval letter from a reputable lender. The pre-approval stage of the mortgage process is the most important step. The number one…

This BLOG On What Do Mortgage Underwriters Look For During Review Was UPDATED And PUBLISHED On June 9th, 2020 What Do Mortgage Underwriters Look For Underwriting Review: The underwriting department of a mortgage company is probably the most important department. Mortgage Underwriters are the people that will approve a loan file and issue a clear…

This BLOG On Why Do Underwriters Question Irregular Deposits Was UPDATED And PUBLISHED On May 8th, 2020 One of the most important things that mortgage underwriters will request to start the mortgage application and approval process is 60 days of bank statements. Lenders will also require all other asset information such as investment accounts, and…

This BLOG On Mortgage Closing Process In Illinois On Home Purchases Was UPDATED And PUBLISHED On March 23rd, 2020 Julie Hayward is the President and Managing Broker for Illinois based real estate company EDGE REALTY INC. and the author of this article Mortgage Closing Process In Illinois. Here is a Mortgage Closing Process In Illinois Question and…

In this blog, we will discuss and cover our 21-day fast-track TBD home purchase loan program. Gustan Cho Associates offers a fast-track TBD loan program when most mortgage loans close in 21 days or less. Realtors love this program where borrowers do not need a subject property. Our mortgage processor will process the mortgage file…

This ARTICLE On How Does A Mortgage Payment Structure Work On Home Loans Was PUBLISHED On October 14th, 2019 Unlike other loans, a mortgage often doesn’t require that you have some sort of collateral, security or equity as the home itself can serve as such. In a nutshell, if a borrower by any chance defaults…

This BLOG On Mortgage Approval Can Be Revoked During Mortgage Process Was UPDATED On January 30th, 2019 Getting a conditional mortgage loan approval means that borrowers meet the basic qualifications with regards to income, credit, and assets. Prior to approval, a mortgage underwriter has reviewed the following: Income Credit Credit report Credit history Credit scores Types…

This BLOG On What To Do If Borrowers Got Mortgage Denial From Bank Was UPDATED On January 23rd, 2019 Most first time home buyers normally go to their local bank to see if they qualify for a residential mortgage loan. Banks are full-service lending institutions Banks cater to the general public in lending the following types of…

This BLOG On Factors Influencing Credit Scores When Applying For Mortgage Was UPDATED On January 8th, 2019 There are five Factors Influencing Credit Scores: Payment history Credit balances outstanding Credit history longevity Types of credit types Credit Inquiries In this article, we will cover and discuss the Factors Influencing Credit Scores when applying for a mortgage. How…