Introduction

I am a Mortgage Underwriter. Many of my friends own a home (or multiple properties), yet no one really understands what is it that I do for a living. It is very easy really. You talk to the sales guy at the bank or brokerage firm. Then, they send your loan package to loan processors who gather all the documents from you. Then, the entire loan package will be sent to underwriters (people like me) to decide if the loan is going to be approved, denied, or counteroffered with a different loan terms that you are asking for… simple. But what do we base our decision on? How do we analyze a loan package? How do we catch you when you are lying? Why do we ask for an explanation on something that seems SO obvious to you? Why do we need you to explain large deposits that appear on your bank statements? If you are divorced and have kids, why do we need to request for a copy of your divorce decree? Why should we care right? Well, lucky you! I will be the one who fills you in from now on with different articles. If you want to get your home loans approved, isn’t it much better to get it from the perspective of the one who has the power to approve or decline your loans? To have an understanding of what we are looking for? You are in luck! I am here to help.