Hi, Live underwriting is a process where borrower is not yet approved for the loan. Normal underwriting could be knowing the basics and all calculations of underwriting to review live loan file or audit any underwritten file... I hope that was the answer for your question!!
Hi sir, I have one doubt, in interview commenly they ask one question, I don't know how to answer the questions, could you please help me. Question 1: what is purpose of LoanSetup and Pre-purchase review is there? Question 2: LoanSetup Pre-purchase review and which stage in mortgage life cycle?
Loan setup involves entering data into the loan origination system based on the provided documents. The pre-purchase process happens after a file is closed and sent to the investor by the lender. The investor reviews the file to ensure it meets quality standards before purchasing it. This involves re-evaluating the file (re-underwriting) by setting up the data in the investor's loan origination system. I hope this clarifies any confusion.
@@leosudesh In mortgage life cycle which stage including this process (Orginazation, processing, underwriting, closing, warehouse, delivering, servicing, second market...)
There are two stages in the process: Origination Cycle: This includes tasks like processing files, underwriting (UW), closing deals, and providing funds. Post Closing Cycle: After closing deals, the next steps involve activities such as shipping, servicing, conducting audits before purchase (UW audit, etc.), and managing warehouses. I hope this makes it clearer for you.
Hi sir, I'm working in US mortgage from 3 years i want to be an underwriter. Currently there is no chance for getting moved to underwriter team in current company. Is there any certification to get the job as underwriter in other companies? Please tell me if there is any such courses which is budget friendly. Thank you
It's wonderful that you want to become an underwriter in the mortgage industry! Even though your current company doesn't offer chances to move up, there are many online courses you can take. MBA and NAMU are a couple of platforms where you can get certifications. Another idea is to buddy up with someone in your company or find colleagues who can teach you underwriting skills over time. You could also explore jobs at companies that hire processors or credit underwriters, which could be a stepping stone to becoming a full underwriter.
Hi Sir, what was the difference between the live underwriting and normal underwriting? Thank you
Hi, Live underwriting is a process where borrower is not yet approved for the loan. Normal underwriting could be knowing the basics and all calculations of underwriting to review live loan file or audit any underwritten file... I hope that was the answer for your question!!
Hi sir,
I have one doubt, in interview commenly they ask one question, I don't know how to answer the questions, could you please help me.
Question 1: what is purpose of LoanSetup and Pre-purchase review is there?
Question 2: LoanSetup Pre-purchase review and which stage in mortgage life cycle?
Loan setup involves entering data into the loan origination system based on the provided documents. The pre-purchase process happens after a file is closed and sent to the investor by the lender. The investor reviews the file to ensure it meets quality standards before purchasing it. This involves re-evaluating the file (re-underwriting) by setting up the data in the investor's loan origination system. I hope this clarifies any confusion.
@@leosudesh In mortgage life cycle which stage including this process (Orginazation, processing, underwriting, closing, warehouse, delivering, servicing, second market...)
Please answer me
There are two stages in the process:
Origination Cycle:
This includes tasks like processing files, underwriting (UW), closing deals, and providing funds.
Post Closing Cycle:
After closing deals, the next steps involve activities such as shipping, servicing, conducting audits before purchase (UW audit, etc.), and managing warehouses.
I hope this makes it clearer for you.
Hi sir, I'm working in US mortgage from 3 years i want to be an underwriter. Currently there is no chance for getting moved to underwriter team in current company. Is there any certification to get the job as underwriter in other companies? Please tell me if there is any such courses which is budget friendly. Thank you
It's wonderful that you want to become an underwriter in the mortgage industry! Even though your current company doesn't offer chances to move up, there are many online courses you can take. MBA and NAMU are a couple of platforms where you can get certifications. Another idea is to buddy up with someone in your company or find colleagues who can teach you underwriting skills over time. You could also explore jobs at companies that hire processors or credit underwriters, which could be a stepping stone to becoming a full underwriter.