I did a signing for an underwriter (she wasn't using her company). We had an interesting conversation on this topic. The issues that underwriters have is LO promises anything to customer to close the deal ("that last bankruptcy is not a real issue"). The underwriter tries to work something out, the LO will throw them under the bus ("the underwriter is just being difficult") . Since customers never talk to underwriters directly as a rule, it's easy to blame them.
The worst ones are mortgage brokers. For them no closing, no pay. They will say anything to close. When it goes wrong they will blame the underwriters instead of admitting that they knew the customer wasn't qualified. |
