The Underwriter Doesn't Hate You!
Updated: May 31, 2019
The 4 C's of Underwriting.
The mystery is over. In this short video and blog I go through what the underwriter cares about when determining if you can have a home loan.
Number one, underwriters aren't typically warty trolls, living under bridges and crushing home buying dreams into martini glass elixirs for their 3 pm happy hour... not typically. Having been an underwriter for 12 years, I've come to know many and the truth is, they're people. People who have been employed with the task to read loan guidelines and review what a mortgage professional has packaged together. They only get to see what is handed to them or they can pull from a third party source.
What are they looking for? Well, they are searching for proof that a prospective home buyer adheres to the 4 C's.
Capacity - Credit - Cash - Collateral
The 4 C's of underwriting are risk factors that a lender uses. A lender wants to give a loan, that's their whole point in being, but they also want to take on as little risk for the loan they are offering as possible.
I go through what the 4 C's are in the video.. if you have further questions or would like to learn more about any part, I'm here for you.
And for the record, that underwriter actually loves you. YOU'RE why she has a job. Now let's make sure she also loves your Loan Officer.