Once the processor has put together a complete package with all┬áverifications and documentation, the file is sent email and overnight mail to the lender. The underwriter is responsible for determining whether the package is deemed an acceptable loan that meets the requirements for the loan program. If more information is needed, then the loan is put into “suspense” and the borrower is contacted to supply more information and/or documentation. If the loan is acceptable as submitted, the loan is put into an “approved” status.

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