What is underwriting

In banking, underwriting is the detailed credit analysis preceding the granting of a loan, based on credit information furnished by the borrower, such as employment history, salary, and financial statements; publicly available information, such as the borrower's credit history, which is detailed in a credit report; and the lender's evaluation of the borrower's credit needs and ability to pay. Underwriting can also refer to the purchase of corporate bonds, commercial paper, Government securities, municipal general obligation bonds by a commercial bank or dealer bank for its own account, or for resale to investors. Commercial Financing is underwritten on a case by case basis. Every loan application is unique and evaluated on its own merits, but there are a few common criteria lenders look for in commercial loan packages. Our underwriting knowledge and experience will increase your chances of getting your project funded.

Underwriter's responsibilities

• Review mortgage loan submissions in compliance with Investor and Bank guidelines.
• Underwriting includes verification of all documentation and performing necessary calculations
  (such as debt-to-income and disposal income).
• Responsible for reviewing and clearing approval conditions as required.
• Remain current on Investor and Bank requirements and ensure compliance therewith.
• Initial appraisal review.
• Perform all data entry functions related to underwriting.
• If loan is unacceptable as structured, make alternative structuring recommendations.
• Work with other team members to ensure efficient document flow.
• Ensure compliance to federal, state, bank and investor regulations/requirements.
• Prepare reports as required.
• Maintain underwriter quality standards