Once your loan file is ready to be reviewed on a higher level at the bank it moves to the underwriting. This process is done by an underwriter that is trained to look for any risk that the borrower or property may affect the ability to pay off the loan. The underwriter has the final say for the loan approval.
The underwriter will gain a complete loan file from the processor. It is the underwriter’s job to make sure that all the documents are accounted for and the you meet every criteria involving the loan agreement. You may be contracted by your loan officer in behalf of the underwriter for additional documents or questions regarding your loan.
Underwriters may request additional documentation from divorce agreement or tax returns for a partner in a law firm. While your loan officer may have to go over the underwriters head, or get exceptions, or beg for the underwriter’s approval, on occasion an underwriter can kill a deal.