CHAPTER 4

images

Qualifying the New Way: Understanding Automated Underwriting Systems

UNDERWRITERS ARE individuals who are highly regarded in the mortgage business, and those underwriters who have been in the business for a long time have earned their way to the top and can make a very good income. Some underwriters even obtain a special status that authorizes them to underwrite certain types of loans that other underwriters aren’t qualified to fully approve.

There are several factors that a loan application must pass muster on before an approval is issued but they fall into two basic categories: property and borrowers. We will discuss these, before ...

Get Decoding the New Mortgage Market now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.