Underwriting Defined
Underwriting is taking all the financial information for a borrower and deciding if they are approved for a mortgage. It used to be a human being poured over all the information submitted by an originator and decided if a mortgage was approved and with what conditions.
However in today’s mortgage world, there is a [...]

Qualifying Defined
Qualifying or what is also know as “pre-qualifying” for a mortgage is when the borrower provides information about their income, assets, credit, debts, etc. to the mortgage originator so they can analyze all the information and decide if the borrower can be approved or not and for what program.
In the old days, mortgage originators [...]