The phrase "to underwrite the loan" means that a financial institution agrees to provide funds for a loan. They assess the borrower's creditworthiness, review the loan terms, and take on the risk of the loan. Full definition
Because their loans are secured by real estate rather than projected income, private money lenders are more able underwrite loans in situations where a property will not immediately produce profits. (montegra.com)
FHA will require lenders to manually underwrite loans for which borrowers have a decision credit score below 620 and a total debt - to - income (DTI) ratio greater than 43 percent. (kentuckyfhaloan.wordpress.com)
FHA will require lenders to manually underwrite loans for which borrowers have a decision credit score below 620 and a total debt - to - income (DTI) ratio greater than 43 percent. (rismedia.com)