An underwriter’s job is to assess credit risk and borrower eligibility. It is the intricacy of their job that puts them under immense pressure to generate profitability, at the same time increase new business opportunities. Following the lending crises of 2007, many companies now seek disciplined underwriters that can provide compliance-friendly streamlined procedure. Even though there are many mortgage underwriting…
With the implementation of Dodd-Frank Act, the lenders have been walking a tight rope. They can no longer adopt an apathetic approach towards the transaction process. To stay compliant with stringent regulatory framework, the lenders will have to focus on keeping costs in control, improve efficiency by integrating technology into their process, consider scalability to surge productivity and collaborate with…
Home appraisals are an important step for lenders to finalize the loan process. Banks will do not approve a mortgage that exceeds the actual value of the property. This is the reason it is important to get the borrower’s property evaluated before final approval on the loan is issued by the bank. Once the borrower makes an offer on his…