Underwriting is the most Important of the six stages of the Loan Approval Process.  It is broken down into two components the

computer phase and the human phase.

COMPUTER

This involves entering a customers information into an Underwriting Engine and merging it with the credit report.  There are

three different Underwriting Engines with the most commonly used being DU.  These Underwriting Engines are an electronic

grading system matching the Underwriting Guidelines with the customers specific information.  This grading determines the

initial approval in most cases, as we often do at Home Team Lending.  The grading results are called the Underwriting Findings

any they help determine the final risk factor for the loan and the final interest rate.

HUMAN

After the Processing and Verification stage a file is presented to the Underwriter.  An individual who is trained to analize

and verify the information and validate the Underwriting Engine Findings.  After reviewing the file the Underwriter will issue

what is called the Closing Stipulations List or 'Stip List'.  Once all of the conditions on the 'Stip List' are complied with the

loan is sent to the Closing Department for Scheduling.