Hello! This is Joe Harris with Morgan Financial and here is your “Joe Knows Mortgages MINUTE”. This week, we answer the question: “Why is it important that the underwriting is done in office?”

Most companies have their underwriting done in a centralized facility, far away from where the loan is actually being done.  Having in-office underwriters makes the loan process run much more smooth and cuts down the time for loan approval. Say one of our underwriters has a question about an application, they can easily walk down the hallway to speak with the Loan officer about this and solve any problems or questions right then and there.  Or conversely, if a loan officer has a question on a borrower, the can walk down to the underwriter ask how they would handle the situation.

Having in-office underwriting is a huge reason why our current clear to close time is 9.88 days on all VA and conforming loan

Thank you for tuning into this Joe Knows Mortgages MINUTE If you have any home loan related questions, we want to hear from you! SO please comment down below! Also, please feel free to like and share this information with your family and friends. See you again next Monday!