Heap Underwrite Signature Block with airSlate SignNow

Heap underwrite signature block

with Nick Kristof for the Kristof team and wants to continue the conversation with you about the loan process and what it looks like start to finish so if you haven't seen the previous two videos you can check those out one about getting pre-qualified pre-qualified or pre-approved and what goes on during that stage or during that process and then one that talks about really from the beginning of that application process right up through as you're working with getting all the documentation collected basically so that leaves off usually right around where a processor is getting involved so this video is going to talk a little bit about what a processing and underwriting do when people are loan officers talk about being in in that stage what's happening so really the processor is usually doing a lot of the confirmation of the collection of the document so make sure that stuff's there as well as some of the things that need to happen behind the scenes so often they may be reaching out to the IRS confirming for quality control stuff that the tax returns provided match what's on file with the IRS they may doing some identity theft confirmation stuff for Social Security Administration they may be confirming with someone's employer bonus Commission income something it may be variable over time things like that they confirm break down to those numbers that may not be obvious on a pay stub or w-2 or things like that so a lot of times a lot of behind-the-scene things happening that the processor is doing and that processor is going to work with the underwriter and the underwriter is the key individual basically in the process that confirms that all of the information provided matches the actual loan program guidelines for whatever loan program you've applied for so whether that's a jumbo loan Fannie Mae loan construction loan FHA VA something that all of the information that's needed for that particular guideline that set of guidelines is met and so they're going through it they're reviewing it they're noting everything that's there and clearing it or omitting maybe making a note of saying hey some of these things are missing and here's what's needed to get it kind of finished up for a final approval at the end of their their review and a lot of times if you've got a good loan officer and a good processor the underwriting review is more of a formality they you know our loan officer and own processor are going to know going into this that we've got a clear strategy and the information you provide is going to meet guidelines but they underwriter is actually the individual that formally can issue that approval so at that point you've got a loan commitment a lot of times particularly purchase if you have something in your contract that says you need to provide a loan commitment within so many days that's what they're talking...