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Secrets Your Mortgage Broker Will Not Tell You

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Underwriters

Source: http://www.engineersjournal.ie

This is the person responsible for reviewing all the documents, to make sure the loan is sound. Chances are you will not ever speak to the underwriter. If the underwriter finds something wrong, they will refer it back to the MLO, who is still your main contact person. The both of you will have to work out the issue brought about by the underwriter. Then hopefully you have solved the issue before it goes back for another review by the underwriter. If it still is not resolved as decided by the underwriter, at this point, it looks like you won’t be eligible for the loan. So work well with the MLO.
So now you have a basic idea of the processes and people involved in securing a loan to buy a house. Here are some FAQs that may interest you as well:

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