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This workflow template illustrates the detailed review of borrower mortgage applications by the underwriting team. Purchase and download this template in PDF, Visio (VSD), PowerPoint (PPT) formats. You can customize it to fit your own organization, or simply use it to better understand the Mortgage Loan Underwriting process.Download a Free Sample of this Workflow Template
What is included in Mortgage Loan Underwriting?
The Mortgage Loan Underwriting process involves the detailed review of borrower mortgage applications by the underwriting team. This process includes the reception of applications from loan officers (ensure that all necessary information and documentation from the applicant), desktop underwriting, information correction or additions by loan officers, second reviews (if necessary) and final approval or denial of the application. Ensure that customers are informed upon the decision of the loan application. If the application is denied, the reason for the denial should be explained.
Which KPIs, or metrics, are typically used to measure this process?
The following metrics may be used to measure the Mortgage Loan Underwriting process:
Which employees and/or departments are involved in this process?
The following parties are typically involved in the Mortgage Loan Underwriting process:
What is the purpose of these workflow templates?
Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.
How are these workflow templates created?
These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.
How do I download a workflow template?
Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the workflow template in PDF, Visio (VSD) and PowerPoint (PPT) formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.