An impartial third-party individual who reviews a loan application and submitted financial documents to evaluate a borrower’s creditworthiness for a particular loan product.
An underwriter is an impartial third-party individual who reviews a loan application and submitted financial documents to evaluate a borrower’s creditworthiness for a particular loan product, usually for a specific property.
An underwriter will either approve, decline, or suspend a loan. Underwriters are licensed individuals and must adhere to both federal lending guidelines and investor overlays to maintain their licensure. FHA and VA underwriters are specially certified to underwrite government loans.