Whether providing underwriting services onsite for the lender or performing in-house underwriting for loans, your job is to ensure loans approved by you represent an appropriate level of investment risk that is priced accordingly. It’s commonly known that fraud goes up when the market drops. In today’s already fraud-rife market, stagnant and lower prices demand even greater vigilance of the collateral value, borrower integrity, and mortgage broker or agent track record. Complicating matters is the increased demand for production speed and ever decreasing loan-level data that makes it difficult to probe deeply into each loan that crosses your desk.
The reputation of your firm for providing competent underwriters, as well as the demand to avoid loan defaults, makes accurate underwriting your paramount concern. In addition, you must be able to ensure that all underwriters operate at the speed necessary to keep up production levels and that each underwriter adheres to lender or internal guidelines. As the insurer, you have the greatest interest in quantifying the risk of every loan that receives approval and your certificate of insurance.
First American CoreLogic’s solution suite puts a complete set of collateral, borrower, and originating broker information at the underwriter’s fingertips. Our automated tools take the legwork out of chasing down information and provide scores that can be compared against lender- and insurer-determined qualification levels to determine risk. We also provide complete customization of tools that enable you to determine the business rules that guide the system’s function, including bump logic that escalates files that need closer examination on to additional assessment tools.