Pre-Underwriting Support

Our mortgage pre-underwriting back-office support helps your underwriter make faster, more accurate decisions, speeding up the loan approval process.

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Assured Accuracy

We use a multi-tier review process to ensure complete accuracy of all information. This means that the underwriter can rely on the information provided to make an informed decision.

Improved TAT

Well-established process in place to verify information at the pre-underwriting stage. This, along with our multi-tier review process, ensures complete accuracy and faster turnaround times for your underwriting process.

Significant Savings

Don't let high operational costs slow down your business growth. Partner with GrowQ today and take advantage of our cost-saving solutions.

We work with your jr. underwriters to ensure that loan files are complete in all respects and that the underwriter’s time on the file is optimized.

Underwriters are an integral part of the mortgage lending process, as they determine whether a file is approved, suspended, or declined. To ensure a smooth process and increase the likelihood of approval, it’s crucial to submit a clean file.

At GrowQ, we conduct a thorough and comprehensive review of credit, income calculation, and asset verification for each loan application. We also reconcile credit and review collateral in accordance with standard agency guidelines to ensure that the loan meets the necessary criteria for underwriter approval.

Our pre-underwriting (Pre-UW) process plays a critical role in expediting the loan approval process. By conducting a detailed review of the loan application prior to submitting it to the underwriter, we are able to identify any potential issues and address them proactively. This results in fewer conditions and fewer touches required during the underwriting process, ultimately leading to a faster CTC (Clear to Close).

We take great pride in our ability to provide efficient and effective loan processing services, while maintaining a high standard of accuracy and compliance.

 

Our extensive services include the following:

Income and Employment Verification: Our team will thoroughly verify the borrower's income and employment history to ensure that they meet the lender's requirements.

Asset Verification: We will also verify the borrower's assets, such as savings and investments, to ensure that they have sufficient funds to cover the down payment and closing costs.

Credit Analysis: Our team will conduct a thorough credit analysis to determine the borrower's creditworthiness and ensure that they meet the lender's minimum credit score requirements.

Property Appraisal: We will arrange for an appraisal of the property to determine its value and ensure that the loan amount does not exceed the property's value.

Document Collection and Analysis: Our team will collect and analyze all necessary documents, such as tax returns, bank statements, and employment verification, to ensure that they meet the lender's requirements.

Compliance Verification: We will run compliance verification to check if loan files comply with state and federal laws and prepare disclosures for Real Estate Procedure Settlement Act (RESPA) and Truth In Lending Act (TILA), along with pre-disclosures.

Loan File Restructuring: We restructure loan files to ensure seamless management and validation of the processed files to meet your underwriting needs.

HMDA Reporting: We compile the data to create home mortgage disclosure (HMDA) reports, which provide valuable insights and help improve decision-making.

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