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Residential Department: From the Editor: May 2018


From the Editor

The importance of underwriting should not be lost

r_2018-05_FTE.jpgMay is traditionally the month when flowers begin to bloom across the northern states and homebuyers begin in earnest to search for new homes. May also is the month when Scotsman Guide traditionally highlights underwriting.

Underwriting can be a tough subject to cover. Mortgage originators generally spend most of their time following leads, working with referral sources and building relationships with potential borrowers to maintain a steady flow of loan applications. Underwriting occurs at the other end of the process, but is nevertheless, just as important to the success of a mortgage company as applications — if not more.

Top originators understand the importance of underwriting. They make sure they prepare their borrowers for what’s to come and help their underwriters by obtaining all necessary documents. This keeps underwriters and borrowers happy, makes the entire process run smoother and faster, and gets loans to closing faster, which everyone wants.

To help mortgage originators better understand their important role in the underwriting process, we present a number of articles about underwriting this month. We start on Page 37 with an article by Scott Olson of the Community Home Lenders Association, who takes a look at issues and improvements in liability, transparency and enforcement within underwriting. Turn to Page 136 next to read the article by Shirleen Von Hoffmann of Home Builders Edge, who discusses how originators can avoid adding to the risks that their underwriters face.

For a look at how technology will be shaping underwriting in the near future, turn to Page 42 to read an article by Brian Kucab of Genworth Mortgage Insurance. For those originators interested in the differences between underwriting conventional versus hard money loans, turn to Page 46 to read the article by Ian Walsh of Hard Money Bankers LLC. These and more underwriting articles can be found in this issue.

Of course, as always, we have plenty more articles on a variety of mortgage topics to offer this month. In the aftermath of one of the worst years of natural disasters in U.S. history, many mortgage companies may be worried about keeping the lights on the next time a hurricane or blizzard threatens. Christopher Cash of Envoy Mortgage has some insights, beginning on Page 75.

Niki Nevarez of Mountain West Financial also has some tips for managers who are looking to open their doors to telecommuting originators. Turn to Page 113 for that article. Then, check out the article on Page 50 by Tom Gillen of Churchill Mortgage, who provides his thoughts on originating mortgages in an unpredictable economy. All of these articles and more can be found within the pages of this issue.

Time to say goodbye

This is my last issue as editor of the Residential Edition of Scotsman Guide. After more than 30 issues, it is time to move on to my next challenge. I have accepted the role of managing editor for Ask a Lender (, the consumer-facing platform that matches borrowers and lenders, created by the good people here at Scotsman Guide Media. If you haven’t checked out Ask a Lender, take a look and create a profile. It is a great way to connect directly with borrowers. See you there.


Will McDermott is managing editor for Ask a Lender. Reach him at or (800) 297-6061.

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