Automated Underwriting – LP vs DU

The auto industry has done it with self parking cars.  The vacuum industry has done it with automated vacuums.  Automation is now a part of the mortgage industry as well! Apply for a Home Loan  Team@JeremyHouse.com 602.435.2149 Mortgage lending depends on "automated underwriting".   Automated underwriting involves a computerized analysis for each loan application.  2 primary automated underwriting systems currently exist in mortgage lending.  They are: Desktop Underwriting ("DU") … [Read more...]

One Day Home Loan Approval

When thinking of an Arizona mortgage underwriter you envision a kind soul dressed in all white right?  Most Phoenix home buyers see a heartless bitter person behind a giant desk with giant "DECLINED" rubber stamps everywhere.  While I can assure that's not quite spot on, underwriters job is to objectively evaluate loan applications.   That fact is what makes this story amazing. One of our clients who is under contract to purchase a new Arizona home had the misfortune of their current home … [Read more...]