The process of examining all the data regarding a borrower’s property and transaction based on credit, employment, assets, and other factors and the matching of this risk to an appropriate rate and term or loan amount to determine if the mortgage applied for should be issued. The individual who makes this assessment is known as an underwriter.

Underwriting requirements
Standards enacted by lenders in the determination of borrower qualification for a loan. These standards go beyond qualification requirements to include an evaluation of the borrower’s creditworthiness.

Upfront Mortgage Lender
A lender who uses the internet to offer mortgage shoppers the information they need to make an informed decision before applying for a mortgage loan and assures the client fair treatment during the period following application through to closing.