You are viewing this post: Contrato Underwriting | underwriting
Table of Contents
Contrato Underwriting
นอกจากการดูบทความนี้แล้ว คุณยังสามารถดูข้อมูลที่เป็นประโยชน์อื่นๆ อีกมากมายที่เราให้ไว้ที่นี่: ดูเพิ่มเติม
Video de Derecho Cunsur
How Underwriter’s Calculate Income
شفا و الشبس السحري !!
What Exactly Does An Underwriter Do With Your Mortgage?
So, what does an underwriter do? Getting your loan underwritten can be terrifying. We’ll cover how you can make the underwriting process less stressful, faster, and easier!
🎧 Listen To The Podcast
https://plinkhq.com/i/1493715474
💰 7 Proven Ways To Save Thousands On Your Home
https://www.winthehouseyoulove.com/free
➡️ Go to https://www.winthehouseyoulove.com/
0:00 What you’ll learn
0:40 Overview of underwriting
5:08 Who actually approves your loan?
6:30 The 2 rounds of underwriting
8:12 How to handle documents
10:11 What NOT to do
11:00 CalmMoment
12:15 Using a shared folder
13:12 Blood samples
14:17 How long it takes
15:23 Steps to buy a home
Hey, Kyle here with winthehouseyoulove.com. Today were talking about what does an underwriter do exactly for your loan? So you’re going to learn three things. Number one, why underwriting determines the fate of your loan. Number two, how to make underwriting easier and number three, how long it takes and the things that you can do to speed up the underwriting process so you can get in your home quicker. This is all about. Making the home buying process, less stressful and helping you go through it as quickly as possible because getting a loan isn’t super fun. We want it to be a joyful process to buy a house. So we’re going to talk about how you can ease this process up.
So first let’s talk about a quick overview. All right. So let’s look up here really quickly. Think of it like a three stage process for underwriting. So underwriting, a basic definition of what underwriting is, is the lender needs to verify your information, to make sure that you can pay back a loan. All right.
They need to make sure that if they’re going to lend you $200,000, that you have a high probability of paying back that $200,000, they don’t want to lose that money. So there’s, kind of a threestep underwriting process. Number one, you have a computer approval. So most loans are underwritten with computer software.
So the computer is first going to issue an approval based on the data that you put in, in your loan application. Then in step two the underwriter is then going to verify the information that was put into the computer program. Now, this has done in two stages that we’ll talk about here, about three fourths through this video, and then number three, your loan is approved.
So the computer verified your information, then an actual person, actual human reviews your information, and then your loan is finally approved. So let’s talk about AUS. AUS stands for Automated Underwriting Software. And this is a software that’s going to take all the information from your loan application, and it’s going to compare it to hundreds if not thousands of mortgage guidelines, mortgage guidelines are just filled with tons of different rules on what qualifies you for a mortgage and certain limitations and documentation that you need for specific scenarios. It can be really obnoxious, like some mortgage guidelines are 1,500+ pages.
So, what AUS is doing is it’s taking the information from your loan application and it is now comparing it to guidelines. All right. And then what it’s going to do is it’s going to give you an approval or denial recommendation. So the software, the guideline software, is now going to compare the information that you put in on your loan application and say, hey, we think this fits all of the guidelines.
So after the underwriting software says, hey, this fits the guidelines, then an actual human has to review that information because here’s what happens is on your loan application. You might put in that you make $50,000 per year. That’s great. But the computer can’t tell if you actually make $50,000 per year or not, the underwriter has to actually look at your pay stubs, W2’s, maybe tax returns to see, do you actually make $50,000? And if so, they will green light basically what that underwriting software is saying so you can get a final loan approval. So the underwriter is going to check over your income, your employment history, credit, and debt to income ratio the appraisal, the money that you have for your down payment and then title, insurance, I have appraisal in here as well, but they’re going to check the property to make sure that it meets lending guidelines. So you can see you have this kind of two phase approach of looking at these guidelines. So you have these big organizations are these big entities that are setting up these rules.
So you have people like Fannie Mae, Freddie Mac, FHA, VA, USDA, they’re setting the guidelines.
Legal
Kyle Seagraves
NMLS 1701021
Motto Mortgage Alliance
8900 N. Dixie Dr.
Dayton, OH 45414
Equal Housing Opportunity
What’s the day-to-day of being an underwriter? – Hey Insurance – Ep 87
Comment below, what is your day to day like as an underwriter (or back when you were an underwriter).
นอกจากการดูหัวข้อนี้แล้ว คุณยังสามารถเข้าถึงบทวิจารณ์ดีๆ อื่นๆ อีกมากมายได้ที่นี่: ดูวิธีอื่นๆINVESTMENT
Articles compiled by CASTU. See more articles in category: INVESTMENT
