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Mortgage Library: Ask a Mortgage Related Question: Answers: Underwriting
Could you give an estimate on the percentage of loans that are denied once they are sent to an underwriter? And what are the leading reasons why they are denied.
I don't think there's a universal answer for that question. A loan should not be declined in underwriting. If a loan is declined in underwriting, then the loan officer didn't do his/her job. A qualified and experienced loan officer will know what will be approved and what will not. He/she will know the loan programs and guidelines and would not send a loan to processing/underwriting that has a chance of being declined.
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