Underwriter - friend or foe?

Capri84

New to this - but my MA says my case has now been passed to the underwriter. So the fella at the lender dealing with it before... what’s he/she?

He seemed quite happy apparently and said everything looked good - what’s the script with the underwriter? Do they often poke holes in it and send it back? 

ACG

Depends on the lender - some lenders (such as Bluestone) have "case assessors" who check all documents are uploaded and anything obvious is questioned before it goes to the underwriter. 

Other lenders, it may have been run by the account manager before submitting the application. 

Underwriters good or bad... that is a difficult question to answer. They are not actively looking to decline cases, but there are some underwriters who make things far more complicated than they need to be. I would say 90% of the time we do not have bad experiences with underwriters. That being said I have stopped using 2 lenders because underwriters were consistently bad. I vet the lenders we use as much as they vet us. If they are not up to the job, I would rather not use them. 

Capri84

Cheers for that. Who are those two rotten apples?

any experience of Coventry? 

ACG

I dont use Coventry a lot but never had any problems with them and we have sent them some "quirky" cases that they would have been well within their rights to decline or make a meal of. 

Capri84

Okey dokey. I’m probably just winding myself up, haha. Completion date is 11.06 and it seems to be coming at us 100mph and the mortgage company moves at 5mph. 

Hopefully hear some good news soon.