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New and Automated Underwriting Procedure

New Underwriting Technology As mentioned before mortgage lenders are coming up with better ways to underwrite the loan applications in order to reduce defaults and foreclosures on the loans that they approve. They are trying to come up with better ways to just the creditworthiness of the borrower in order to make good decisions with […]

Loan to Value Ratio [LTV]

The loan to value ratio or the LTV is a convenient way for the mortgage lender to measure the risk that the mortgage loan signifiers. The loan to value ratio is the ratio achieved by dividing the loan amount by the property is appraised value. For example it’s appraised value of the property is $200,000 […]

Property Appraisal Costs

Property Appraisal Costs The lender also gets the property appraised before granting the loan to the borrower. The lender wants to know that the property is worth the amount of loan that the borrower is buying it for or more than that. The lender will not want to lend more money than what the property […]

Traditional Underwriting Guidelines

The complete underwriting process may be a little different from the preliminary approval or not and that a mortgage lender can give you based on the information that you provide him through an automated underwriting system. The mortgage lenders now have the ability to input the information you provide them to a software which has […]