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Underwriting

Auctor, having already established a credible reputation, offers clients the highest standard of service excellence in the field of Loan Underwriting.Our underwriting services include reviewing all the necessary information, analyzing the creditworthiness of the borrower and rendering a decision on the loan request. Our updated and proactive team provide compliant, efficient and thorough analysis of the loan applications in your pipeline.

Our service offerings include:

Running Automated Underwriting Systems

Running an automated underwriting system involves feeding data into software that assesses the risks associated based on a formula and generates an approval or denial. This is a common mortgage underwriting practice in recent times and we follow the same at  Auctor. The underwriter, are responsible for the accurateness of the information fed into the automated underwriting system and must ensure that it is verified, reviewed and appraised. The final approval or denial depends on the criteria as determined by the application used.

Clearing Loan Conditions

On completing a loan review, we send conditions to close to the loan officer. Clearing loan conditions usually involves getting additional documents (specified by the underwriter) to support the borrower’s case, such as letters of explanation, updated pay stubs or purchase agreements. Once all the requirements are satisfied, we issue a clear to close and final approval.

Title Review

Title review is a key step of mortgage underwriting. This ensures that the title of the property is clear and does not have any legal claims, liens or lawsuits against it. We conduct this to protect the interests of the mortgage lender as well.

Appraisal Review

The appraisal review report is an important part of a mortgage loan file as it states the underwriter’s opinion about the sufficiency and appropriateness of the collateral provided to support the mortgage transaction. As part of the appraisal review of the property we review appraisal photographs, location maps, property sales history, appropriateness of the comparables, adjustments, as well as the report date, appraiser’s signature and license number. We try to verify that the property valuation is at par with the market value.

Fraud Guard Review

The fraud guard review process helps identify anomalies and potential falsifications in a loan file. We can identify possibly fraudulent items such as AVM comps mismatching with the appraisal, conflicting addresses (driver’s license address different from the home address), large deposits or withdrawals, multiple cash transactions in several bank accounts, and more such gray areas that suggest potentially fraudulent activities.

Outsource mortgage underwriting to a professional service provider like Auctor Business Solutions and forget your worries. When you outsource mortgage underwriting to our qualified and experienced underwriters, you can benefit from their keen attention to detail and ability to spot and address potential problems, helping guide you towards achieving quick loan approvals.

A Right Partner For Mortgage Solutions