What does a Mortgage Underwriter Do and Why is it Important?

What does a Mortgage Underwriter Do and Why is it Important?

Let's imagine you've been preapproved for a mortgage and your offer is accepted for a home that has everything you're looking for. The house is within your budget, has the perfect number of bedrooms, and is an ideal location - perhaps Charlotte, NC, or San Diego, CA. So what's next? To get the mortgage, you need an underwriter's stamp of approval.

Mortgage underwriting is a key component when purchasing a home. The underwriter decides whether a loan request will be approved or declined. But how? Let’s discuss what a mortgage underwriter does, what the process looks like, how long it takes, and common reasons why a mortgage loan might be denied.

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