The writer is a Vancouver mortgage broker with experience in bad credit mortgage in Canada applications. He is familiar with most bad credit Canada mortgage lenders. Potential purchasers need not be worried if there credit difficulties in the past.
Today, many lenders have turned to automated underwriting (AU) for an underwriting decision. An automated underwriting system determines the creditworthiness of an applicant by assigning points to certain attributes and facts. These complex software programs use an enormous loan performance database for the basis of their calculations and analysis.
This series first examines the underlying issues and risks, explains the practical steps involved in underwriting a residential mortgage loan, and reviews how underwriting has evolved and is practiced today.
Duncan Seward is a Vancouver mortgage broker. Mortgage BC is the focus of his business. He is an expert in bad credit mortgage refinance applications. Poor credit loans need not be a concern to clients with a damaged credit history.