Mortgage Information

How does a lender evaluate your mortgage loan application? This process may seem a bit mysterious, but it really isn’t.Your lender will carefully review your credit history, your debts and income, information about the property you want to buy or refinance, and other factors explained in this booklet.The process of evaluating these factors is called underwriting. Underwriting helps a lender make a mortgage loan decision.

Your lender may decide to use Desktop Underwriter® to help underwrite your loan. Desktop Underwriter is an automated (computer-based) underwriting system that helps mortgage lenders collect and analyze the information needed to process mortgage loan applications and helps lenders thoroughly evaluate the credit risk of home mortgage loans. Desktop Underwriter complements—not replaces—the considered judgment of experienced underwriters.

This booklet provides an easy-to-follow overview of the factors Desktop Underwriter considers when evaluating a mortgage loan application. However, Desktop Underwriter is not the only automated underwriting system in use today. Check with your loan officer to find out specifically which method of underwriting is being used to evaluate your loan application.

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