US Mortgage Underwriting

 Mortgage Underwriting A–Z Guide

Table of Contents

1. Introduction to Mortgage Underwriting
2. The Mortgage Loan Lifecycle
3. The Four C’s of Underwriting
• 3.1 Credit
• 3.2 Capacity
• 3.3 Capital (Assets)
• 3.4 Collateral (Property)
4. The 1003 Mortgage Loan Application Form (URLA)
• 4.1 Borrower Information
• 4.2 Employment & Income
• 4.3 Assets and Liabilities
• 4.4 Declarations
• 4.5 Loan and Property Information
5. Credit Report Evaluation
• 5.1 Tradelines
• 5.2 Inquiries
• 5.3 Public Records
• 5.4 Credit Scores
6. Income Analysis
• 6.1 Wage Earners
• 6.2 Self-Employed Borrowers
• 6.3 Rental and Investment Income
• 6.4 Other Sources of Income
7. Asset Review
• 7.1 Bank Statements
• 7.2 Gift Funds
• 7.3 Retirement & Investment Accounts
8. Property Appraisal and Collateral Evaluation
• 8.1 Appraisal Types
• 8.2 Sales Comparison Approach
• 8.3 Cost and Income Approach
• 8.4 Red Flags
9. Loan Types and Programs
• 9.1 Conventional Loans
• 9.2 FHA Loans
• 9.3 VA Loans
• 9.4 USDA Loans
10. Automated vs Manual Underwriting
11. Underwriting Conditions and Suspense Handling
12. Closing the Loan

• 12.1 Closing Disclosure
• 12.2 Final Verifications
• 12.3 Closing Documents

13. Post-Closing and Quality Control
14. Common Red Flags in Underwriting
15. Mortgage Fraud Awareness
16. Glossary of Underwriting Term.

17. ☺️

Chapter 1 →