Mortgage Underwriting 101


Stuff About Mortgages

Loans

About the Author:  Chuck Walden (NMLS #148160) is a loan officer with Prospect Mortgage.  Email Chuck at chuck.walden@prospectmtg.com or call 678-725-8076. Website is www.ChuckWalden.com

As a loan officer, I have to look at every loan as if I’m the underwriter.  If I put myself in her/his shoes, what will I see?  What are potential issues and red flags?  A question asked of me constantly is, what does an underwriter look at when evaluating my loan?  Listed below is my opinion on what can make a strong loan.

First, your credit will be evaluated.  Your credit score is a number which will tell the underwriter if you have been paying bills on time and if you have had any issues related to collection accounts, judgments, liens, bankruptcy, or a foreclosure.  if you have credit cards, are they maxed out?  Your credit score is also a great representation of the likelihood…

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