Loan Officer vs Underwriter

[EaglesFan2006]

I have a contract now that my lender is reviewing.  I've been in pretty good contact with him since late June about my FHA loan.  He's answered every question, but now that the underwriting process is about to being i'm starting to worry.  So I'm hoping to get a better understanding of something.   I understand the difference between an LO and UW, but do they work together?  Does the LO know who the UW is?  Basically I guess the concern I have is that what if there's a complete disconnect between the LO and UW, where the LO has repeatedly told me I'm good ever since he did automated underwriting, but the actual UW has a completely different philosophy on what I need, how he intereprets certain things, etc?  Or is that all much adieu about nothing?

[kc0039]

---

@EaglesFan2006 wrote:

I have a contract now that my lender is reviewing.  I've been in pretty good contact with him since late June about my FHA loan.  He's answered every question, but now that the underwriting process is about to being i'm starting to worry.  So I'm hoping to get a better understanding of something.   I understand the difference between an LO and UW, but do they work together?  Does the LO know who the UW is?  Basically I guess the concern I have is that what if there's a complete disconnect between the LO and UW, where the LO has repeatedly told me I'm good ever since he did automated underwriting, but the actual UW has a completely different philosophy on what I need, how he intereprets certain things, etc?  Or is that all much adieu about nothing?

---

If you're AUS approved, the underwriter goes off by the AUS. If there are little minor things that the underwriter needs clarification on, they'll ask for additional docs. Other than that, if the LO read the entire findings, it should be fine. 

[homeloanexpert]

Most lenders follow the AUS, some lenders do have overlays (extra layers, guidelines, or hoops to go through). If your LO works for a lender, I am pretty sure they know the UW. If they are a mortgage broker, then it just depends which lender the mortgage broker will be sending the file to. I wouldn't worry until there's something to worry about. At least your LO did their due diligence upfront. Other LOs don't even run the AUS. Relax and follow the guidance of your LO. Don't buying anything on credit, don't move any money around unless you speak to your LO. Fly low and avoid the radar.

Best wishes to you!

[EaglesFan2006]

Thanks all. Signed disclosures today so I guess the ball is rolling. Lender said all looks good. Just a little nervous about the VOE and hoping my HR dept acknowledges OT will continue. I know it will, I just hope they check the box. Assuming the VOE is written

[EaglesFan2006]

Got the email from loan officer that their LP has done their process and the loan is officially in underwriting. I guess the docs worked. Still nervous but a bit more optimistic. I hope it goes smoothly.

[EaglesFan2006]

Through 1 day of underwriting and I guess no news is good news!