What is the process for underwriting? 

1. Reviewing New Deals (HS)

1. Locate deals requiring underwriting review in the New column of New Business pipeline.

2. Move stage to Underwriting review, update your name as the Underwriter.

3. This stage update would update the stage in MA to In Review.

2. Find new loan in Mortgage Automator (MA)

1. Login to MA, search for loan id.

2. Double-click the file to open it.

3. Determine whether this is a public deal (MA)

4. Perform a first pass review on property (MA)

4. Perform a borrower review (MA)

5. Recording Notes (MA)

• Navigate to the Custom Fields section.

• Enter all relevant borrower review notes for underwriting reference.

6. Credit Bureau Write-Up Process (MA)

7. CanCheck.ca Write-Up Process (MA)

8. Other Properties Write-Up (MA)

9. Conducting a Google Maps Search (MA)

10. Preview Write-up (MA)

11. HouseSigma Write-Up (MA)

12. AML Risk Assessment Writeup (MA)

13. Determine commitment terms (MA)

14. Appraisal writeup (MA)

15. Issue commitment (MA)

16. Pull the writs

Signback recieved, update Signback received dates

Accounting admin (Cat Payment, Subcat Retainer review) autogenerated

Pull writs

All good with writs - update Send to fulfillment date

send to fulfillment date creates a yellow tag on deal so that Underwriting manager moves to Fullfilment stage

17. Send deal to Fulfillment

• Once a signback is in, the Underwriter will update the field, Signback received.

• This will cause a yellow tag to appear on the deal and an accounting admin ticket to be generated (Category: Retainer Received)