Underwriting is vital to the business of lending as it is a thorough check and assessment of a prospective borrower’s ability to pay back the requested loan and serve interest payments on it. The lender does an extensive check on the credit health, behaviour of the borrower, and on the property that is being mortgaged against the loan to make…
mortgage underwriting
Mortgage underwriting is a fairly complex task that involves a lot of data processing and documentation. Because it is quite time consuming and labour intensive, it is often outsourced so that lenders can focus on their core business activities instead. When looking for a mortgage underwriting outsourcing partner, however, there are a lot of criteria that need to be assessed…
Mortgage lenders all agree that mortgage loan applications, underwriting, production, post-closing, and final auditing all require a dynamically skilled team. Moreover, managing regulatory requirements and compliance are labour-intensive tasks that depend on a highly specialized skillset and require considerable training. So much so that most lenders find it difficult to optimize their business, mitigate risks, or even scale properly with…