Biggest Underwriting Pitfalls for Loan Originators

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.

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