Yemani MasonCEO, Secure The Funding · CEO

Here’s what you need to know about underwriter! 🙌🏽💡

Name: Here’s what you need to know about underwriter! 🙌🏽💡
Uploaded: 2022-03-15T16:17:17+00:00
Duration: 59 s
Channel: Yemani Mason
Description: In this segment, Yemeni Mason shares her recent experience speaking with an underwriter and addresses common anxieties that first‑time homebuyers have…

15 Mar 2022 · 1 min

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In this segment, Yemeni Mason shares her recent experience speaking with an underwriter and addresses common anxieties that first‑time homebuyers have about the underwriting stage. She explains that borrowers typically never interact directly with the underwriter; instead, the loan processor serves as the liaison. Mason emphasizes the critical need for borrowers to stay responsive and promptly provide any documents or information requested by the processor, as delays in communication can stall the underwriting review and extend the closing timeline.

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Awesome. So you're telling me we got the clear to close? Ah, thank you so much. I appreciate that. All right, take care. You too. So I just got off the phone with my underwriter, and a lot of people are intimidated by underwriters, especially first-time homebuyers. So what can you expect during the underwriting process? Well, one, most importantly, you will never talk to an underwriter. That is the job and responsibility of whoever is processing your loan. Number 2 is you want to make sure that you communicate with them because they're going to be the ones that are in communication with the underwriter. And so if they need information that the underwriter is requesting, you want to make sure that you provide it as soon as possible because the communication is going to then be relayed to the underwriter through them, which could cause delays, especially if you take your time to get documents to them.