Credit unions face an upfront challenge in 2018. While on the one hand, rising mortgage rates combined with higher home prices is shrinking profits, on the other, bearing the brunt of the continuous increase in financial regulations, is leading to backlogs and delays. In the face of these two challenges, credit unions need an alternative business model – one that…
mortgage underwriting
Most lenders today struggle with sourcing good quality underwriters, as there are only a handful out there and everyone needs their services. With the level of complexity and frequent regulatory changes, the chances of success in training someone from scratch to the position of underwriter is challenging. Not to forget the big effort and considerable amount of cost it takes…
The mortgage underwriting process is of critical importance when someone is purchasing a house. Since this often involves working with realtors, home sellers, and the home buyer, it’s important that everyone involved is clear of the vital pieces of the process. Below are five things that are crucial for mortgage underwriters to understand. Key Task 1: Credit Score Review As…