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Sprout Mortgage Reviews – What Exactly Does An Underwriter Do With Your Mortgage?


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So, what does an underwriter do? Getting your loan underwritten can be terrifying. We’ll cover how you can make the underwriting process less stressful, faster, and easier!

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0:00 What you’ll learn
0:40 Overview of underwriting
5:08 Who actually approves your loan?
6:30 The 2 rounds of underwriting
8:12 How to handle documents
10:11 What NOT to do
11:00 CalmMoment
12:15 Using a shared folder
13:12 Blood samples
14:17 How long it takes
15:23 Steps to buy a home

Hey, Kyle here with Today were talking about what does an underwriter do exactly for your loan? So you’re going to learn three things. Number one, why underwriting determines the fate of your loan. Number two, how to make underwriting easier and number three, how long it takes and the things that you can do to speed up the underwriting process so you can get in your home quicker. This is all about. Making the home buying process, less stressful and helping you go through it as quickly as possible because getting a loan isn’t super fun. We want it to be a joyful process to buy a house. So we’re going to talk about how you can ease this process up.
So first let’s talk about a quick overview. All right. So let’s look up here really quickly. Think of it like a three stage process for underwriting. So underwriting, a basic definition of what underwriting is, is the lender needs to verify your information, to make sure that you can pay back a loan. All right.
They need to make sure that if they’re going to lend you $200,000, that you have a high probability of paying back that $200,000, they don’t want to lose that money. So there’s, kind of a three-step underwriting process. Number one, you have a computer approval. So most loans are underwritten with computer software.
So the computer is first going to issue an approval based on the data that you put in, in your loan application. Then in step two the underwriter is then going to verify the information that was put into the computer program. Now, this has done in two stages that we’ll talk about here, about three fourths through this video, and then number three, your loan is approved.
So the computer verified your information, then an actual person, actual human reviews your information, and then your loan is finally approved. So let’s talk about AUS. AUS stands for Automated Underwriting Software. And this is a software that’s going to take all the information from your loan application, and it’s going to compare it to hundreds if not thousands of mortgage guidelines, mortgage guidelines are just filled with tons of different rules on what qualifies you for a mortgage and certain limitations and documentation that you need for specific scenarios. It can be really obnoxious, like some mortgage guidelines are 1,500+ pages.
So, what AUS is doing is it’s taking the information from your loan application and it is now comparing it to guidelines. All right. And then what it’s going to do is it’s going to give you an approval or denial recommendation. So the software, the guideline software, is now going to compare the information that you put in on your loan application and say, hey, we think this fits all of the guidelines.
So after the underwriting software says, hey, this fits the guidelines, then an actual human has to review that information because here’s what happens is on your loan application. You might put in that you make $50,000 per year. That’s great. But the computer can’t tell if you actually make $50,000 per year or not, the underwriter has to actually look at your pay stubs, W2’s, maybe tax returns to see, do you actually make $50,000? And if so, they will green light basically what that underwriting software is saying so you can get a final loan approval. So the underwriter is going to check over your income, your employment history, credit, and debt to income ratio the appraisal, the money that you have for your down payment and then title, insurance, I have appraisal in here as well, but they’re going to check the property to make sure that it meets lending guidelines. So you can see you have this kind of two phase approach of looking at these guidelines. So you have these big organizations are these big entities that are setting up these rules.
So you have people like Fannie Mae, Freddie Mac, FHA, VA, USDA, they’re setting the guidelines.

— Legal —

Kyle Seagraves
NMLS# 1701021
Motto Mortgage Alliance
8900 N. Dixie Dr.
Dayton, OH 45414
Equal Housing Opportunity

Thanks for watching the Sprout Mortgage Reviews video!

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  1. Cindy Lopez
    July 23, 2021 at 7:07 am

    Kyle what does mortgage application credit approved mean? Does it mean underwriting is done ?

  2. Na na
    July 23, 2021 at 7:07 am

    can you do a video on

    1099-misc income with back taxes owed underwriting.

    touch base on a few related topics in the video
    whats the difference between underwriting w2 vs 1099

    if you already have a video could you link me?

  3. Bri J
    July 23, 2021 at 7:07 am

    Great video! I happened to come across this and I’m glad I did. I’m an underwriter. When I first started, I couldn’t explain what an underwriter does so that it made sense to non-underwriters. Wish I had this video to route people to lol. One thing I would advise folks going through the process…our job ultimately is to protect the borrower. Guidelines are written based on risk which is based on hundreds of thousands of scenarios that weigh on your ability to repay. If we lend to folks leniently and they default, sure the lender takes a loss. But the borrower may lose their home, damage their credit, and hinder their ability to get a mortgage in the near future. So just keep that in mind. Good processors and LOs are trying to protect you too vs. just trying to get paid on closing loans.

  4. _ Pythonette _
    July 23, 2021 at 7:07 am

    The underwriter of my loan is asking for a copy of my initial disability award notice (from 1997) as "proof that benefits will continue for 3 or more years." I haven't had a medical review of my case in 11 years and I've shown that my student loans were discharged due to Total and Permanent Disability. I can't see how any document exists which could guarantee what she asks. Is this customary?

  5. Demetrius Andrews
    July 23, 2021 at 7:07 am

    Are paycheck needed at closing and how is employment varied before closing?

  6. The Perry’s
    July 23, 2021 at 7:07 am

    I have child support money order with agreement with me an my son father but underwriter won’t accept it

  7. Crystal Scott
    July 23, 2021 at 7:07 am

    I’m sitting in “approved conditions”stage of underwriting right now, but also still in the process of building, closing end of September, I hope. The weather decided to rain for almost a good week right as the framing was to start, is it standard practice to run credit report again and if so how close to closing does that happen. During this time all was asked from me was a better driver’s license copy, explaining why my parents address was considered as current as 3 years ago, but I was living in my own home during that time, I don’t even know how that was a thing, but I actually had to explain that to the underwriter.

  8. galactus4mac
    July 23, 2021 at 7:07 am

    I’m currently in the conditionally approved stage what ever that means. But I have excellent credit and low debt to income ratio. What don’t get in the loan process is how little this process looks at people like myself being in the tip industry as a hair stylist. The loan officer asked me why I deposited $500 in a week. Well let’s see I work this cash I have lol I feel like nobody in this process is on the side of the buyer. At least with cars they are hungry to close the deal.

  9. XO XO
    July 23, 2021 at 7:07 am

    Do I start the underwriting process before I put an offer on a home or once my offer is accepted?

  10. Diego Lara
    July 23, 2021 at 7:07 am

    I am going through this process n a new build home. It is not too stressful as long as you have all the information they need. Thankfully all my paystubs going back years and statements are available in digital form. As soon as the loan office sends me an email requesting a new document I upload it within minutes. It seems most clients take forever to reply to them because she sent me an email thanking me for being so responsive and said she truly appreciated it.

    But it does get scary at times when they ask for specific info. For example I was out of work for almost two weeks due to covid, and I had to explain that and reply whether I am not back on payroll. Those little things make you wonder if they will use such thing as a reason to deny the loan. But like you said on the video, they aren't picking on you these are just things they have to do in order to get a loan approved.

  11. searchandverify
    July 23, 2021 at 7:07 am

    I don't like the million emails, but my mortgage processor has sent me 30 emails asking for documents one at a time over the last few weeks. I sold my old truck after I signed the contract and asked multiple loan officers how to document the sale before the trade. All of them said send them the bill of sale and bank statement showing the deposit. Two weeks ago the unwriter asked for the old title which I gave to the seller and didn't scan. Then yesterday for deposit slip and letter of explanation about using cash. Today I sent those to them and my insurance cards for that vehicle. I asked the purchaser if I could give their contact info to the underwriter and for a scan of the new title. We are 10 days from closing. In my letter of explanation I included the details of the sale, the purchasers contact information and asked to be provided with all the documents I need to provide them so we can close. My truck was less than $9k. My condo is $158k. I have nearly $60 between bank, brokerage and retirement accounts. I'm doing 4%. I said I want final approval as soon as possible, so let me know what you need so I can provide it and we can close on time. I told them if my loan doesn't get approved in time to close they can expect to hear from my attorney. They needed my bank to get the transaction info from the fed bank for my earnest money wire. I gave them my bank statement, withdrawal slip and confirmation email from the escrow company stating that they received my deposit. My bank said they've never been asked to provide that for an earnest money wire. I want a smooth finish. I'm not mad yet, but I will be if they screw it up and I don't get approved in time after they asked for all this extra stuff that doesn't seem typical.

  12. Lance G
    July 23, 2021 at 7:07 am

    I just went under this process like 1 day ago and I'm home nervous. My mind keep wondering. I hope everything is going well. Geez I'm so stressed 😫. Thank you for your informations.

  13. Dante Everheart
    July 23, 2021 at 7:07 am

    I’ve got charge offs on my credit report I have a feeling Im doomed for years even if I paid on them. 😭

  14. Tontow Toronto
    July 23, 2021 at 7:07 am

    His voice sounds like he's telling me a long secret 😂🤣.. amazing information by the way 👍

  15. Ingrid Stewart
    July 23, 2021 at 7:07 am

    My loan is currently with the underwriter and my loan Officer told me in order to get approve, I need to pay off the 2 car loans on my credit report at closing. Is this logical? Please advise. Thanks

  16. eddye royal
    July 23, 2021 at 7:07 am

    I had to manual one. I’m VA, and a previous BK.

  17. ggggg
    July 23, 2021 at 7:07 am

    What is loan commitment ? Does it require an appraisal? What’s the difference between approve/eligible and loan commitment? Thanks

  18. Barbara Harris
    July 23, 2021 at 7:07 am

    Great information, very helpful did not quite sure what underwriter was about.

  19. ogodede collins
    July 23, 2021 at 7:07 am

    Your tone and at the pace you speak is perfect. Some people rush as if something is pursuing them

  20. Lee Lee
    July 23, 2021 at 7:07 am

    You’ve helped us sooo much! Plus your voice is sooooo calming👌🏾 I’ve had some peaceful sleep full of knowledge because of you😂 We are building our home & have received our initial approval. We break ground next week🤩 Thank you so much!

  21. G Wynn
    July 23, 2021 at 7:07 am

    Can a underwriter increase the loan amount?

  22. Nicole C
    July 23, 2021 at 7:07 am

    Glad I saw your video. I have a question. Found a home submitted documents went under contract..everything was ok then lender notified me that there was a judgement from years ago that I knew nothing about because it never showed up on my credit report. I dont think application went to underwriting yet.. should I be worried that I wont get the loan approved? I'm still waiting to hear something because that means if I have to wait the seller may back out.. and the home is a foreclosure.. what's your opinion on this situation

  23. The Hernandez Chaos
    July 23, 2021 at 7:07 am

    I’m in the underwriting process still haven’t heard from them. Should I continue to pay off my debt even in full?

  24. Jeremy Diettel
    July 23, 2021 at 7:07 am

    How will the underwriter know that you opened a new credit account?

  25. Roxie S
    July 23, 2021 at 7:07 am

    I have never been married so if you are ever single keep that in mind, because that voice got me falling in love 😍

  26. Jesse Gomez
    July 23, 2021 at 7:07 am

    What are the odds i get denied during underwriting? All my assets and credit are exactly the same since i've gotten pre approved. I'm so anxious

  27. Toni Dupree
    July 23, 2021 at 7:07 am

    So besides the 3 credit bureaus, what other sites do underwriters pull from? I know one is Lexisnexis. Are there any others?

  28. Toni Dupree
    July 23, 2021 at 7:07 am

    So glad I came across your videos. We bought our first house in 2006 and we’re renting it out due to moving for a job. We’re preparing to apply for a mortgage in January and your videos are helping tremendously. I barely remember buying our last house 😂.

  29. First Last
    July 23, 2021 at 7:07 am

    Thank you. You add so much value to your videos. I love it. Thank you.

  30. Donyeil Gonzalez
    July 23, 2021 at 7:07 am

    I just got the notification that my application has been sent into underwriting!! I am excited and nervous all at the same time. Thanks again for such an excellent video. They are really helping me understand the process in buying my first home. Closing expected 4/22 or sooner fingers crossed 🤞 😀

  31. NouY Moua
    July 23, 2021 at 7:07 am

    Could you explain what they're looking at? For an example, I use FB pay to pay coworkers, friends, family if I buy things from them. Why do they want letter or document of clarification for these things? Just wondering

  32. P R
    July 23, 2021 at 7:07 am

    I wish I would've have watch your video sooner, now i understand this process more clearly.

  33. Brenda Martinez
    July 23, 2021 at 7:07 am

    It took almost 4 weeks for my underwriter to approve our loan, is that a common time span? I feel like it took way too long and we had provided all of our documents

  34. Cindy Perez
    July 23, 2021 at 7:07 am

    Can I buy a cruise ticket if I’m in the middle of buying a house? I plan on using my debit card.

  35. Grace Ferrer
    July 23, 2021 at 7:07 am

    Happy to have found this important information. I have a better understanding of conditional approval to initial approval to 2nd round with underwriting. Hopefully to close tomorrow!

  36. Daisy Alejandro
    July 23, 2021 at 7:07 am

    Thank you for responding to my message last time….just got into the underwriting process today….crossing my fingers that everything will go smoothly…Thanks Kyle .First time home buyer here…I’ve watch your videos and learning a lot..

  37. Rose Solis
    July 23, 2021 at 7:07 am

    Thank you my loan is now going through underwriter but my problem is my loan person does not talk to me honestly I feel I can walk away from this to frustrate with the process

  38. Annamarie Thompson
    July 23, 2021 at 7:07 am

    Another Great video,Filled w/ Helpful information, Thank you Kyle!

  39. Double D
    July 23, 2021 at 7:07 am

    How long does it usually take

  40. Mike Phelps
    July 23, 2021 at 7:07 am

    Will paying off a loan have a negative effect on the underwriting process??????

  41. Esthetically Chic
    July 23, 2021 at 7:07 am

    We are in underwriting for our va loan right now. They are concerned about my husband being in sales. So they asked for a few more old pay stubs. We sent in over a years worth plus shown that my husband has made good money just in the beginning of this year alone. Now we are waiting. We have no outstanding debt, good credit, and we are even putting money down because we want to. So I’m
    On pins and needles waiting and it feels like forever. We found out Friday they needed more pay stubs and we are still waiting! 🥺

  42. Heavy Protection
    July 23, 2021 at 7:07 am

    Do underwriters get paid if loan gets denied?

  43. rey guevara
    July 23, 2021 at 7:07 am

    Absolutely needed at this point in time. Thanks

  44. team chill
    July 23, 2021 at 7:07 am

    Why does it take a long time to underwrite if you provide the requested documents?

  45. Kevin C
    July 23, 2021 at 7:07 am

    Can you give me info on Overdrafts on bank statements. Example is that I have overdrafts on my statements but not in the past 3 months. All are about 4months and later.. but I am applying with my significant other and they put her as the coborrower. Most of the down payment is coming from her account not mine. But me being the main borrower will I get denied during underwriting even though she doesn’t have any overdrafts at all?

  46. Suzy76
    July 23, 2021 at 7:07 am

    I am an underwriter as well and you are so on point! Love it! We want to close the loans but like you said we have to meet the requirements set. I hate when the loan goes sideways but always try to find a way to make it work. If you follow what he is saying you will have a much smoother process for sure. Good video thanks much

  47. For the fun of it
    July 23, 2021 at 7:07 am

    Ok, dummy questions….is the underwriter a database that the application is sent to? Also, if "manual underwriter", is from the lender? Thanks

  48. Chris Stepp
    July 23, 2021 at 7:07 am

    Good video, i just got my application sent to underwriting today.

  49. Roger Kirksey
    July 23, 2021 at 7:07 am

    Hopefully you can help me I was Approve for a loan up front credit FICO score of 700 plus
    I Turn in everything was getting near the end a old bill pop up on my credit I had pay debt off and 30 days for my credit report to update now it’s resubmitted back to underwriting it’s been a week why does it seem like it’s taking so long if all they needed was credit update I’m confused why does it have to go back to underwriting HELP? ???