Summary
Advantages of training underwriters
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Extract
Money well invested.
Investing in training for underwriters has many returns. It can speed decisions - a plus in attracting new business and keeping old customers coming back. It also can help prevent unmarketable loans, another reason it makes good business sense.
A basic truth about underwriting is that it will never be a profit center. So why invest in it? For that matter, why should any money be spent on training underwriters if it's just a drain on already nonexistent origination profits. Right? Well, not so fast. If training underwriters results in fewer nonmarketable loans, then certainly that's a good dollars-and-cents reason for investing in their training. If the same training results in fewer unnecessary underwriting conditions, then customer satisfaction increases. Certainly, keeping customers happy - be they Realtors, builders or borrowers - helps boost profits. This training is starting to sound like a key strategic investment. Training underwriters is an investment in risk management as well. An untrained underwriter is more likely to make a nonmarketable loan. Andy Hubbard, national training manager for Banc One Mortgage Corporation in In...See the full content of this document
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