One of the most critical parts of the home loan process is underwriting. The underwriters job is to ensure that your loan documents fulfill the requirements to approve your loan and move it forward to the closing process.
In-house underwriting enables salary-based mortgage consultants and underwriters to communicate more effectively on the details of your mortgage application and that can make all the difference in getting approved for a mortgage.
Benefits of in-house underwriting
The biggest advantage is that borrowers have a more personal connection to the process. You are a person with a story, a situation. If the underwriter needs more information to explain any red flags like gaps in employment or credit issues, an "in-house" underwriter communicates with your direct salary-based mortgage consultant to help explain your situation or help you collect more information.
It can improve the chances of being approved without delay. Delays can lead to costly fees for missing deadlines and could even force you to miss out on your dream home.
By contrast, many large mortgage lenders out-source the underwriting to third-party companies or individuals. This can save the lender a few dollars over-time but can also slow the process, introduce unnecessary costs for the borrower, and possibly create confusion with so many different hands on your loan file.
Our underwriting process
American Financing maintains the entire mortgage process under one roof. Your direct relationship offers a high-level of accuracy and a more responsive experience, from application through closing. Together, our team of mortgage experts can quickly determine if certain conditions must be fulfilled before the loan can be approved, how to collect additional information needed, or just guide you through the process to help you get approved.