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Underwriters: Unlikely Heroes of Your Homebuying Journey

March 1, 2024


Min Read
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“Mystery enshrouds the work of the mortgage decision maker” —said someone, some time.

Think of the mortgage process as all leading up to one phase—underwriting. Your loan officer helps you put together your application, collecting your documents and asking the important questions. Your loan processor makes sure everything is in order. And your underwriter takes all of that information and makes the decision. But the amount of misinformation and confusion around what an underwriter actually does is significant. We dug into the issue and have some clarity to provide.




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For one, you won’t likely ever be communicating with your underwriter. This can be a cause for question, but the answer is pretty simple. Underwriters are specifically trained to make an unbiased, rule-abiding decision. By speaking with the most biased party in the transaction (the buyer) that unbiased decision deteriorates pretty quickly.

“Great loan processors like we have here at Lower act as a translator from ‘underwriter speak’ to normal language" says Lower trainer, Jake. "Good lenders will have an attentive processor working between both you and your underwriter to get your loan approved."

So, it’s all about numbers and documents by the time your loan makes it to underwriting. This is a good thing, and here’s why.

The rules underwriters enforce are actually beneficial for you.

Underwriters protect a lender’s investment and mitigate financial risk and fraud. (This applies to you, too, we promise.) In short, a lender doesn’t want your house, which is what happens if you were to stop making payments. They want you to have your house, and make payments until it’s paid off. So, underwriters are trained to make sure a loan fits the rules and regulations that increase the odds of finding borrowers that will be successful in making payments.

You know who also wants you to keep your house and make payments until it’s paid off? You do.

So, if the purpose of the rules and regulations in mortgage are to prevent people from getting more home than they can reasonably afford, there’s your huge benefit. Getting a home you can afford for the long term. Using the rules to mitigate your own risk. Think of an underwriter’s unwavering dedication to detail as a positive when they’re looking at your details.

Rest assured knowing every aspect has been considered in your personal scenario.

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Without underwriters, no one would be getting a mortgage. (So there’s that.)

Yep, underwriters play a pivotal role in maintaining the stability of the entire lending ecosystem. Without their meticulous scrutiny, lenders would be hesitant to lend money, fearing the potential risks associated with unvetted borrowers. Underwriters serve as the basis of trust, fostering confidence among lenders, and enabling people (yep, you) to get the loans they need to own a home.

As such, scenarios like the 2008 housing collapse are mitigated by underwriters—they’re making sure all loans given comply with government rules and regulations. This is great for lenders, but more importantly, great for the housing market and for you, too.

The mystery of the fabled underwriter is no more.

Underwriters—heroes for all homebuyers.

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