Manual Underwriting: Key Guidelines and Best Practices
Manual underwriting remains a key part of the mortgage approval process when borrowers fall outside the parameters of automated underwriting systems (AUS)—such as those with non-traditional income, limited credit history, or recent financial hardship. While manual reviews allow for a more personalized and flexible assessment, they can also be time-consuming and error-prone without the right […]
What is Fannie Mae CU? Understanding Collateral Underwriter
As mortgage lending practices continue to change, the need for accurate property valuations has never been more important. To reduce risk and maintain sound lending standards, lenders must ensure that the appraisals they receive are reliable and follow industry standards. As a key part of this process, Fannie Mae’s Collateral Underwriter (CU) provides automated risk […]
What Are Reps and Warranties? Definition, Benefits & Insights
Business agreements can cover a wide range of transactions—from real estate deals to corporate mergers. In every case, the parties involved seek assurances that the information they rely on is accurate and reliable. This is where representations and warranties come into play. These legal statements form the foundation of trust in a contract by confirming […]