Would mortgage loan officer convey papers to underwriter if they thought you didnt qualify? ?
Answers:
No, but they w would send them on if they thought you might. In any valise, the underwriters always have the ending word and the application always goes to them.
They may. It's not up to the loan officer to say yes or no. Any suitable LO would send the file up to underwrite to see what could be done. Plus if there was a problem (like you sued the LO), in that would be proof that they (the LO) did everything possible to get the loan for you.
The other two posts are correst --
My two cents.
Loan Officers are technically licensed as " Loan Originators".
They write the loan, use their best judgment, submit your scenario
and discover if the parameters enjoy been met for a profile fit of
the investors predetermined requirements.
Once a credit bureau is generated, it hurts nil to ask the bank (s)
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