What is In-House Mortgage Underwriting

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In House Mortgage Underwriting
In House Mortgage Underwriting

One size fits all does not describe a mortgage company.  In fact, mortgage companies come in many different shapes and varieties.  From mortgage bankers, to mortgage brokers to correspondent lenders each variation is different from the other.  For example, the funding process or loan product offerings vary.  However whether or not a lender offers in-house underwriting is among the most crucial differences.

In-House Underwriting Benefits a Buyer

Arguably, the most critical step in the home loan process is underwriting.  Until a loan applicant is approved by an underwriter, nothing else really matters.   Exactly how and where loans are underwritten impacts a home-buyer’s overall home loan experience.

Whether or not a mortgage company offers a client in-house underwriting can make all the difference in the home buying process.  Lender’s with in-house underwriting have a direct connection between the loan officer and underwriter.  There is no “middle man.”

Loan officers’s with in house underwriting communicate directly with underwriting. Having the ability to pick up the phone and call underwriting directly is very beneficial.  In-house underwriting can also allow a lender to process a loan much quicker than a lender that does not offer in-house underwriting.

What Does In-house Underwriting Look Like?

While some lenders have underwriters in their office others have a central underwriting set up.  Either way, having a personal relationship between underwriting and origination is very helpful.  When analyzing which Arizona lender is best for you one of the questions on your checklist should be “do you offer in-house underwriting?”  Only take “yes” for an answer!

By Jeremy House

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