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Mortgage Underwriting

Basically, the possibility or risk of default, resulting in foreclosure, is what differentiates mortgage loans from other financial loans.

The process in which a lender determines whether the risk of offering a mortgage loan to a particular borrower under certain parameters is acceptable is called mortgage underwriting. Mortgage underwriters use a variety of industry guidelines and computer models that analyze the various aspects of the mortgage in order do asses the quality of the loan. However, the final decision of approving or disapproving the mortgage loan lies to the mortgage underwriters.

Most of the risks and terms that mortgage underwriters consider fall under the three C’s of underwriting: