I am torn between two lenders for a USDA loan.
With one lender that I have been working with has an Automated Guaranteed Underwriting System. After that, she says the packet then goes to the manual underwriter for final approval (which is in a different location, not that that bank).
The second lender has a Manual Underwriter. That person gives the first and final approval and they are located in-house.
I don't know which would be better.
I sort of have a tricky file. Our scores are where they need to be (over 640) but I just don't know. No bankruptsys or anything like that... a few collections but they are all paid and settled.
I have been told the AGUS is better because once it gives the approval, a "skeleton" of the packet/report goes to the manual underwriter.
I have been told that the manual underwriter at the beginning is more thorough.
Any insight?
