Underwriting may be one of the most mysterious parts of the loan process for consumers, but it can be the same way for loan originators as well.
What should a loan originator look for when evaluating the 1003 mortgage application in order to advise their clients on potential hurdles they can face?
From work history to bank statements to incomplete 1003s, NFM Lending Underwriting Manager, Cathy Purdham discusses what to look for and how to communicate with your underwriter should issues arise. She also talks about the systems NFM Lending has in place to streamline the underwriting process and make it more transparent, an approach that has helped dramatically reduce time loans spend in underwriting and problems with the 1003.
You Might also like
-
Which Home Improvements Give You The Best Bang For Your Buck?
Ever wonder which home improvements bring the greatest return on your investment? NFM Lending's Chief Appraiser, John Liberatore discusses remodeling and contributory value with NFM Chief Business Development Officer, Greg Sher.
Post Views: 2,193 -
NFM Lending Hurricane Harvey Relief Efforts
NFM Lending's Chief Business Development Officer, Greg Sher, leads NFM's efforts to raise donations for victims of Hurricane Harvey.
August 30 through September 8th, NFM Lending is encouraging its employees and interested referral partners to bring items to one of our 41 locations across the county so that we can schedule a pickup with the Red Cross to help relief efforts in Houston, Texas and Louisiana for residents affected by Hurricane Harvey. For information on branch locations, please visit nfmlending.com/branches.
For more information and updates on the effort visit https://nfmlending.com/nfm-lending-supports-victims-of-hurricane-harvey/.
You can also follow the hashtag #nfmheavyhearts on social media
Post Views: 2,102 -
Is The Loan Officer Going Away Forever?
NFM Lending Chief Information Officer, Christos Bettios, fresh from the 2017 Mortgage Bankers Association conference, discusses the future of the loan originator. Will the loan originator be completely removed from the mortgage process, replaced by technology? Bettios gives his insight from the conference as well as his insights on security and technology in the loan origination process.
Post Views: 3,703