This new year I've had time to reflect on the past year, I wanted to start this new year as a "MASTER BLOGGER" and blog three times a week and build my business and help people achieve their closing goals! Underwriting is the same way, we want to help people achieve the dream of HOME-OWNERSHIP! Most of the time we are able to accomplish this. There are also times we find that we can help them achieve the dream of home-ownership, but not at the original terms we offered in the beginning.
There is another side to underwriting that is rarely talked about. After the loan has closed and the borrower is living happily in their home, there are a few other set of eyes that will review this "closed loan". We never know when we will here from post closing, post closing QC or worse.....the investor that purchased the loan! One thing is for sure, we have to answer immediately! Sometimes its a matter of explaining the underwriting decision and other times its just a big fat mistake staring us in the eye.
It's only talked about in whispers among close friends, few underwriters will ever admit to making mistakes. Yet, these back end checks and balances wouldn't exist if people didn't make mistakes. So this is my long winded way of saying this 2020, give your underwriter a break. They are human and make mistakes, they are there to approve loans loans. No company could survive with a team of underwriters that only denied loans! Have a happy prosperous New Year!
Late CE 8 Hour WEBINAR National SAFE Comprehensive: Compliance in Action 2019**Jan 20-23, 2020**
***Look out for our bite-size training Webinars and our upcoming FHA & USDA webinars.***
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Underwriter/Training and Development Coach