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LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

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Underwriting

In the mortgage industry an underwriter reviews a borrower's credit, income, employment history and assets as disclosed on the loan application and make a determination of rather the borrower qualifies for the mortgage. Underwriting is intended to guarantee the mortgage loan against default.

See Uniform Residential Loan Application - URLA (1003)
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.