mortgage underwriting

Did you know that underwriting subprime loans without assessing the risks was one of the prime factors that led to the downfall of Lehman Brothers in 2008? The ramifications of Covid 19 has had a crippling impact on the mortgage underwriting process. While on the one hand, underwriters had to qualify loan applications as per relaxed lending standards, on the other, they had to ensure that loan was saleable in a secondary mortgage market that…