The Mortgage Underwriting Process - Who? What? Why?
6.3 هزار بار بازدید -
3 سال پیش
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What Is an Underwriter?
An underwriter is any party that evaluates and assumes another party's risk for a fee, which often takes the form of a commission, premium, spread, or interest.
Agents and brokers represent both consumers and insurance companies, while underwriters work for insurance companies.
Types of Underwriters
Mortgage Underwriters
The most common type of underwriter is a mortgage loan underwriter. Mortgage loans are approved based on a combination of an applicant's income, credit history, debt ratios, and overall savings.
Mortgage loan underwriters ensure that a loan applicant meets all of these requirements, and they subsequently approve or deny a loan. Underwriters also review a property's appraisal to ensure that it is accurate and the home is worth the purchase price and loan amount.
Mortgage loan underwriters have final approval for all mortgage loans. Loans that are not approved can go through an appeal process, but the decision requires overwhelming evidence to be overturned.
A mortgage loan underwriter is one of the most common types of underwriters. Their job is to ensure that a loan applicant meets all requirements before approving or denying the loan. Another common type is insurance underwriters, who review applications for coverage, and based on their findings, accept or reject an applicant. Underwriters who work in the equity market must administer the public issuance and distribution of securities from a corporation or other entity in the form of common or preferred stock.
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Official business inquiries can be sent here. Personal e-mails will be discarded.
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#HomeLoan #Underwriter #Mortgage
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DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.
ADVERTISER DISCLOSURE:
Jake is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Additionally, other referral links are included and this channel does receive compensation for sending traffic to partner sites. Shopping through our links is an easy way to support the channel and we appreciate and are super grateful for your support!
Become a channel member to get access to great perks: 🌟 🎓 👑 @jakebroe
💯 LET’S CONNECT 💯
📷 Instagram @JakeBroe 👉 Instagram: jakebroe
🐦 Twitter @Broe_Jake 👉 Twitter: broe_jake
Check out my entire playlist on buying a home here:
Buying a Home
👇 👇 Watch My Other Videos Here 👇 👇
★ How to Buy a House - FULL Step by Step Process
How to Buy a House - FULL Step by Ste...
★ FHA vs Conventional vs VA Mortgage Loans - Which is Better?
FHA vs Conventional vs VA Mortgage Lo...
★ Do You Need a Realtor When Buying a Home?
Do You Need a Realtor When Buying a H...
★ The PROBLEM with Low Mortgage Interest Rates
The PROBLEM with Low Mortgage Interes...
📷 📷 My YouTube Equipment 📷 📷
► My Camera 👉 https://amzn.to/2UZpFwA
► My Wide-Angle Lens 👉 https://amzn.to/2Qwf3Sq
► My Wireless Microphone 👉 https://amzn.to/2QBV9W0
► My Shotgun Microphone 👉 https://amzn.to/36bdLTv
► My Lighting 👉 https://amzn.to/2F5Ey7V
► My Light Diffusers 👉 https://amzn.to/2tjF8fG
What flag is that? 👉 https://amzn.to/357sptp
What is your background? 👉 https://amzn.to/2BCHRp1
================
📚 📚 Books That Changed My Life 📚 📚
📗 How to Win Friends & Influence People 👉 https://amzn.to/2F3ahGC
📕 Dumbing Us Down 👉 https://amzn.to/2spodrZ
📘 Quiet - The Power of Introverts 👉 https://amzn.to/36b2ti3
📙 The Red Queen 👉 https://amzn.to/2QzNW8W
📔 Rich Dad Poor Dad 👉 https://amzn.to/3bliFyP
📒 Why Nations Fail 👉 https://amzn.to/3fWZ3Em
================
Desktop Underwriter & Desktop Originator
https://singlefamily.fanniemae.com/ap...
What Is an Underwriter?
An underwriter is any party that evaluates and assumes another party's risk for a fee, which often takes the form of a commission, premium, spread, or interest.
Agents and brokers represent both consumers and insurance companies, while underwriters work for insurance companies.
Types of Underwriters
Mortgage Underwriters
The most common type of underwriter is a mortgage loan underwriter. Mortgage loans are approved based on a combination of an applicant's income, credit history, debt ratios, and overall savings.
Mortgage loan underwriters ensure that a loan applicant meets all of these requirements, and they subsequently approve or deny a loan. Underwriters also review a property's appraisal to ensure that it is accurate and the home is worth the purchase price and loan amount.
Mortgage loan underwriters have final approval for all mortgage loans. Loans that are not approved can go through an appeal process, but the decision requires overwhelming evidence to be overturned.
A mortgage loan underwriter is one of the most common types of underwriters. Their job is to ensure that a loan applicant meets all requirements before approving or denying the loan. Another common type is insurance underwriters, who review applications for coverage, and based on their findings, accept or reject an applicant. Underwriters who work in the equity market must administer the public issuance and distribution of securities from a corporation or other entity in the form of common or preferred stock.
================
📧 E-mail me at: JakeBroeYT [at] gmail [dot] com
Official business inquiries can be sent here. Personal e-mails will be discarded.
================
#HomeLoan #Underwriter #Mortgage
================
DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.
ADVERTISER DISCLOSURE:
Jake is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Additionally, other referral links are included and this channel does receive compensation for sending traffic to partner sites. Shopping through our links is an easy way to support the channel and we appreciate and are super grateful for your support!
3 سال پیش
در تاریخ 1400/07/29 منتشر شده
است.
6,348
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