Trying to figure this out. They have to follow guidelines placed by a lender, so we should assume (trigger for a REAL auditor or compliance specialist) that they actually have enough critical thinking skills to UNDERSTAND the guidelines. Of course, when it's written in a professional language that requires thought, an interpreter is helpful. We know they absolutely, under no circumstances, are not allowed to do ANY math calculations. I mean, if the YTD increases by the same amount bi-weekly, where is that calculation located? They can't be expected to justify the amount on a pay stub without a cited formula and long form calculation provided by the borrower, can they? What about required documents that need "clarification". What clarity can a borrower provide if you have ZERO communication with human beings outside of the cave you live in? Required documents are merely a suggestion because a borrower will have to resubmit them multiple times before an underwriter will even glance at them. Seriously, are you just lazy or too scared to be a professional that holds themselves accountable for work ethics. Practical wisdom is definitely not a required trait for underwriting, so what consequences are there for under-performers? Can they actually say that they "do a good job" or is it just, meh....satisfactory is the pinnacle of their industry standards? As of now and the foreseeable future, I have absolutely no respect for people in this career.
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source https://www.reddit.com/r/RealEstate/comments/1bs63xr/underwriters_do_what_exactly/
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