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A mortgage underwriter's insight | What does the general process look like in 2015?
Malmo
Posts: 710 Forumite
I came across this thread from 2009 by forum user @opinions4u, describing the underwriting process and the factors, criteria and inputs that underwriters evaluate in making lending decisions.
I found it really insightful and helped me to see things from the underwriter's (and hence, lender's) perspective.
Are there any underwriters out there who can build on that thread and provide the latest insights into underwriting practice & process in the current market? I think it would be good to re-start a discussion on this topic.
I found it really insightful and helped me to see things from the underwriter's (and hence, lender's) perspective.
Are there any underwriters out there who can build on that thread and provide the latest insights into underwriting practice & process in the current market? I think it would be good to re-start a discussion on this topic.
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Comments
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I hope o4u is alright.
Just disappeared one day and hasn't been back since February last year.
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Stress, I believeI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Underwriting fundamentally hasn't changed. What has is technology. This enables finer pricing of products to the consumers benefit. Which is simply down to the amount of data available. Potential borrowers can be fairly accurately profiled now as opposed to simply being risk assessed.0
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If anything like trade credit then the scorecard will define an opinion on all of the mentioned factors.
Then score will determine a yes a no or a maybe.0 -
Thrugelmir wrote: »Underwriting fundamentally hasn't changed.
Has the MMR not fundamentally changed underwriting?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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