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2. Understanding the mortgage underwriting process - AOL

   www.aol.com/finance/understanding-mortgage...

   The mortgage underwriter will either approve or deny your application once all the reports and paperwork are in. 44 The number of days the average new-purchase mortgage takes to close, as of ...

3. Loan officer - Wikipedia

   en.wikipedia.org/wiki/Loan_officer

   Mortgage loan officers in the United States must have a Mortgage Loan Originator (MLO) license. To become licensed, they must complete at least 20 hours of coursework, pass an exam, and submit to background and credit checks. Licenses must be renewed annually, and individual states may have additional requirements. [3]

4. Mortgage underwriting in the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_underwriting_in...

   This is termed as reserves by the industry. For example, with a total mortgage payment that is $1,000 a month and the borrower has $3,000 left after paying the down payment and closing costs, the borrower has three months reserves. Underwriters also look closely at bank statements for incidences of NSF's (non-sufficient funds). If this happens ...

5. Mortgage loan originators: What are they and what do ... - AOL

   www.aol.com/finance/mortgage-loan-originators...

   A mortgage origination fee is a lender’s charge you pay at closing to cover the cost of initiating, processing and funding your home loan. In general, you can expect the origination fee to range ...

6. Good faith estimate - Wikipedia

   en.wikipedia.org/wiki/Good_faith_estimate

   This is the charge for processing the loan – collecting the buyer's application, running credit, collecting pay stubs, bank statements, ordering appraisal, title, etc. This is often referred to as a "junk fee" and does not need to be included. 811 - Underwriting Fee; This is the cost of the loan underwriter (approver).

7. Mortgage application: What’s included and how to prepare - AOL

   www.aol.com/finance/mortgage-application...

   The mortgage application process can take around 30 to 60 days on average, from having your purchase agreement signed through underwriting to closing on the home.