Wednesday, April 30, 2008

Loan Underwriters

The loan process starts off with a person called the loan originator. This is the only person you ever real deal with. Unfortunately, they are not usually the final say on the loan. I've seen plenty of approved loans get shot down just a day or two before closing because of the underwriter. The underwriter has final say on the loan. We are lucky to have in our office a loan originator, Katie Mahoney, who is also an underwriter. We just had a buyer last week use Katie to obtain their loan. The buyer needed to close in less than a week on an FHA loan. Her first mortgage broker told her that it couldn't be done. But Katie came in and took over the loan and got it done very smoothly. It's a hugh advantage to have a loan originator who is also an underwriter. Katie's website is www.katieshomeloans.com

No comments: