The mortgage underwriting industry has been undergoing a significant transformation in recent years. With the advent of technology and the increasing use of digital tools, the process of underwriting a mortgage has become faster and more efficient. According to recent studies, the average time it takes to support a mortgage has fallen from 40 days to as low as 10…
Underwriting
Mortgage underwriting is a highly specialized and complicated task. It involves multiple process steps and volumes of paperwork. This makes it very time consuming and error prone. To compound matters, underwriters have to deal and comply with frequent and sudden changes to mortgage rules. Much of these challenges can be mitigated if not eliminated with the help of automated underwriting…
An underwriting job was a daunting task in the past primarily because it consisted of a disjointed process marked by several manual and repetitive tasks. Cut to the present, automation has freed underwriters from being locked into legacy processes of the past. It has allowed them to move away from the conventional linear processes toward exception-based processes. This has introduced…