[J.Celifarco]

what everyone doesnt see is that it has nothing to do with lazy underwriting and everything to do with the banks not wanting to waste time on deals that are not going to fund.. With ISO's shotgunning deals to 5 or more banks, they cant afford to underwrite all these deals when they only have a 1 in 5 chance of getting the deal.. You want to see this happen less work with less banks and develop relationships with the people at those banks. If the bank know that there is a high % chance that if they send out a pre-approval that you will be sending back contracts to them, I promise you that you will see the approvals stick and numbers change less. It is just not cost effective for a bank to fully underwrite a file when there is a better chance that the deal gets done somewhere else

[FUNd]

what everyone doesnt see is that it has nothing to do with lazy underwriting and everything to do with the banks not wanting to waste time on deals that are not going to fund.. With ISO's shotgunning deals to 5 or more banks, they cant afford to underwrite all these deals when they only have a 1 in 5 chance of getting the deal.. You want to see this happen less work with less banks and develop relationships with the people at those banks. If the bank know that there is a high % chance that if they send out a pre-approval that you will be sending back contracts to them, I promise you that you will see the approvals stick and numbers change less. It is just not cost effective for a bank to fully underwrite a file when there is a better chance that the deal gets done somewhere else

Well said, lenders also want to see a commitment from the client and make certain the client is OK with the rate and payment structure. Why UW an entire loan package just to find out the broker never sold the payment?

This happens all the time.