Underwriting
- The decision whether or not to grant a loan. Underwriting
procedures can vary from one lender to the next and is usally
based on assets, employment history, time at current residence,
credit, and other factors concerning the degree of risk
that a lender will take.
Verification
of Application Information - When you sign a loan
application you are authorizing the lender to verify information
given on the application. Verification can be of employment
history, credit history, length of residence among other
things.
