Pipeline Stoppers: Incomplete Applications

Education & Training with Ask The Underwriter NMLS CE Provider #1405058

If I had to pick a number one sore spot between Realtors and Originators it would be missed deadlines (closing dates). Technology has cut down the time it takes to close a loan, but an incomplete application is still the number one pipeline stopper. An incomplete application can stop a loan at set up and it can stop the loan at underwriting, depending on the company's turn times you may have already lost 4 days! Think about how many times you've had to push the closing back one or two days....


I've talked to borrowers on the Retail lending side and they usually have no clue how to complete an application in its entirety, with everything online there is no one to guide them through the process. The good news is an experienced processor can help with this, make sure your processor goes over that application before it goes live. Sounds simple, but not so much when you're busy trying to generating additional business.


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D. Bass

Underwriter/Training and Development Coach



Comments (2)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

D. Bass very good point, and Loan Originators are guilty of this often.  But sometimes dates are also missed because an Underwriter asks for documents not required by the guidelines because it makes them feel more secure about to loan.

Sep 27, 2019 03:00 PM
D. Bass

George, I knew additional conditions would come up! LOL! I can't comment on underwriters overall.  I can say that the underwriter's motivations are for the strength and integrity of the loan and while everyone wants to close the loan fast on the front end, its the underwriter stuck with the investor questions on the back end. Great point and thanks for reading and commenting.

Sep 30, 2019 03:35 AM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Some buyers are more prepared to provide all necessary documents and fill in paperwork correctly.  It's always a challenge, but keeping on top of it helps a lot.

Jan 05, 2020 05:38 PM