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2022 Department Highlight: Underwriting

2022 Department Highlight: Underwriting


2022 Department Highlight: Underwriting

Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. To commemorate National Mortgage Professionals Month this September, we’re sharing insights into the important roles each department plays in ensuring our borrowers are able to finance the home of their dreams. This week, we focus on the Underwriting Department.


Underwriters are the bread and butter of loan approval. They aren’t the ‘competitor’ like most people think. It’s their job to determine if you can afford a loan. Our underwriters know the key factors to consider and look for to ensure you don’t get into a loan you can’t afford.

No race car driver would get into an unsafe car and drive 100 miles an hour, right? The same is true of our borrowers. We want you to get to the finish line safely, and that’s what our underwriters are here to do.


  The Underwriter’s Job

Underwriters are tasked with protecting the company and the borrower. They must make sure a borrower can afford a loan so that the borrower doesn’t lose their home and the lender doesn’t lose money.

Underwriters evaluate many factors, including:

  • Income
  • Assets
  • Credit
  • Collateral

Underwriters review this information to make sure it proves you can afford the loan and that the loan makes sense. For example, if the home isn’t worth as much as you offered, the underwriter’s job is to turn the loan down because it’s a bad investment.

Underwriters also closely evaluate your income, its likelihood of continuing, and your assets to ensure they provide the opportunity to pay the loan not only today but for the next 15 to 30 years.


  The Underwriting Team at MIG

We are incredibly proud of the underwriting team at MIG. They are the backbone of our company and are what get our borrowers to the finish line safely.

We have a team of 17 underwriters, each with incredible experience as loan processors and underwriters. Most of our team has over 20 years of experience in underwriting, so they know what they’re doing when they get your loan in their hands.

Our underwriters work hard for our borrowers, serving clients in the utmost caring and effective manner. Each team member stays up-to-date on industry changes affecting borrowers and lenders. But, they also understand at the end of the day that a human on the other end of this application is holding his breath, waiting for the final answer. They know they are the answer to will a borrower get to cross the finish line with the keys to their dream home in hand.

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020