Santa Brings Coal to Lenders Who Don’t Underwrite In-House

Why is it such an advantage to work with a lender that underwrites VA, Rural Development and FHA home loans at their office? Simply put, RMN’s in-house underwriting allows us to close loans quicker and more smoothly than our competition. RMN’s entire lending staff is highly trained on the specific requirements of the VA, RD, and FHA loan programs. Our senior underwriter has over 30 years of experience, a receding hairline, lots of gray hair and has put on 40 pounds from consuming coffee, coke, milk and cookies, and candy given in bribes, to deliver a “no sweat” lending experience. This allows us to detect and resolve potential issues at the front end of the loan process.

Secondly, the communication in our office is second to none. Everyone on the RMN team works down the hall from one another. We are constantly in communication about our files, which gives us the ability to facilitate rush requests. RMN’s originators and analysts communicate with our underwriting staff on a daily basis to coordinate and prioritize the loan files in our pipeline. This process allows us to close home loans in just two weeks without breaking a sweat.

Lenders who do not underwrite in-house do not have the same familiarity with loan program details and regulations that we do. They will start the origination process on a loan file and not have it reviewed by an underwriter familiar with the guidelines until weeks down the road. These lenders have to “ship the loan off” to an underwriter who works in a different city or state and is employed by a different company than the loan originator. The loan will then sit in line at the bottom of the underwriter’s stack of files for days and often weeks with no real urgency. To cover their own inefficiencies, these lenders will incorrectly tell realtors and customers that VA, RD, and FHA loans take at least 45 days to close.

Start the process with RMN, the lender that will get it done right. Contact our loan officers today to get started with our fast and reliable home loan approval process!