This Article Is About How Underwriters View Overdrafts In Bank Statements Overdrafts in bank statements are not allowed by most mortgage lenders. Overdrafts in bank statements are frowned upon from lenders because it shows financial irresponsibility of bank account holders. Many lenders will deny a mortgage loan due to even one overdraft. It is best […]
This ARTICLE Is About The Difference Between Mortgage Lender Versus Servicer What are the major Difference Between Mortgage Lender Versus Servicer? We will discuss the various types of lenders in this article. The Difference Between Mortgage Lender Versus Servicer is the lender will initially fund the home loan. The lender will use their own funds […]
This Article Is About Things That Can Delay Your Mortgage Loan Closing. A mortgage loan should be able to close in 30 days of less. Whether it is a new home purchase mortgage loan or a refinance mortgage loan, a complete mortgage application package consists of a lot of materials. We have discussed the mortgage […]
This Article Is About Mortgage Lending Today For First Time Home Buyers With Bad Credit The current state of lending has it such that the threat of automation, the rising cost of compliance, and the competitive nature of pricing and undercutting. This results in a better-informed client. It has left the industry wondering. Most mortgage […]
This Article Is About How Does Mortgage Process Work After Being Pre-Approved Most folks consult with a loan officer when they are ready to purchase a home. It is unfortunate that many homebuyers, especially first-time home buyers go through stress and many have gotten last-minute mortgage loan denials even though they have prepared for months […]
This article is about Reasons For Mortgage Loan Denial During Mortgage Process A mortgage loan denial is when a mortgage underwriter denies the home loan application because borrowers do not either meet the federal minimum mortgage lending guidelines or the individual lender overlays. There are reasons for mortgage loan denial which can be avoided. Every […]
This Article Is About The Reasons For Home Loan Denial By Mortgage Underwriters There should be no Reasons For Home Loan Denial. All loans that are pre-approved should not just close, but close on time. The only Reasons For Home Loan Denial is due to the fact that the loan officer did not properly qualify […]
This Article Is About Mortgage Underwriters Role In Home Loan Process A mortgage underwriters role in mortgage process is to be the devil’s advocate. Mortgage Underwriters are the professionals that approve and/or deny loans The mortgage loan applicant’s file goes through opening, processing, and then it goes to underwriting. Most loan officers will qualify borrowers […]
This Article Is About The Role Of Mortgage Underwriter In The Mortgage Process: The role of mortgage underwriter is to underwrite the borrower’s file and make sure they qualify for a home mortgage. The mortgage underwriter is hands down the most important person during the mortgage process. It is the mortgage underwriter that determines whether […]
This Article Is About The Online Mortgage Loan Application Process For Home Buyers Applying for a formal mortgage application has never been simpler. The mortgage application and approval process are done online. Borrowers do not have to overnight documents and/or stop by the mortgage company to drop off important paperwork and/or documents. Everything is done […]
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