Reported 12 months ago
Mortgage underwriting is a crucial step in the home buying process where a borrower's qualification for a mortgage is determined to mitigate risks for the lender. Underwriters assess factors like credit history, debt-to-income ratio, assets, and property to ensure the borrower can afford the loan. The process can be automated or manual, and potential outcomes include unconditional approval, conditional approval, or denial, with approval times varying from a few hours to up to 30 days.
Source: YAHOO