Underwriting is a process through which a lender or insurer calculates the risk of adding that loan or person to the company’s liability. This is a very important process in mortgage underwriting, especially given the recent issues in the housing market. Mortgage lenders are extremely wary of taking on risks that indicate high likelihood to default, and mortgage underwriters are…
Hurricane Sandy’s terrifying sweep through the Northeast and Mid-Atlantic left billions of dollars of damage in its wake. As homeowners scramble to estimate the impact and work together to rebuild communities, it’s clear that there will be some-short term and possibly long-term effects on the mortgage industry. The word that describes the industry’s response to the disaster is relief. Mortgage…
The Mortgage Lending industry is currently booming and most of the Lenders are swamped with the growing volume. While the Loan Officers find it easy to originate loans in a market where the interest rate is at an all-time low, it’s the operations team that is struggling to keep up with the increased volume. Hiring and training new employees for…