Regular Contributor
Posts: 143
Registered: ‎12-05-2007
Underwriting question

I am currently working with Everbank out of Florida . When my file went from the LO to the processor to get things ready for  underwriting, main concern was my income and use of my overtime. The way I work I get scheduled overtime ( have for 4 years) and differentials, well at first she stated that I would have to get my debts down by almost 700 dollars. Then she talked with her manager and then underwriting people and they said that they could use combination of my y-t-d and last years check stub, enabling to quailfy right away. Then she sends me a message saying that she has sent the file to underwriting for a more detailed review. I am not understanding if this is for approval of the loan or just of the income. So confused. What is the processor's job anyway. Never heard of this.