Posted on: 06th Aug, 2010 03:56 pm
Have you recently started getting a refer / eligible from DU when the BK shows in credit report. I have two this week that gave this disposition, both are less than 2 years old. I am not sure if it is giving this disposition becasue the bk is less than 2 years or just because they had a BK.
I am not sure whether to tell my client that they should be ok after 2 years. We do not do manual underwrites any longer so i need an approve/eligible.
I am not sure whether to tell my client that they should be ok after 2 years. We do not do manual underwrites any longer so i need an approve/eligible.
I've been out of originations for (wow!) several months now, but my understanding then and now is that you'll get a "refer" in any case where there's a bankruptcy appearing on the credit report.
Manual underwriting? What's that? Isn't that a relic of our past? I don't remember the last time one of the underwriters I worked with having the ability to manually underwrite a file.
Normal human judgment is no longer considered a valid method by which to determine if someone will pay on time. Obviously computers and those who program them are far more intelligent.
Oh yeah...I jest.
Manual underwriting? What's that? Isn't that a relic of our past? I don't remember the last time one of the underwriters I worked with having the ability to manually underwrite a file.
Normal human judgment is no longer considered a valid method by which to determine if someone will pay on time. Obviously computers and those who program them are far more intelligent.
Oh yeah...I jest.