You may also like these news :
Appraisal changes could hold up loan approval process
Some underwriters now require 'comps' on homes currently for sale. Others want higher cash down payments. Lenders' underwriters are scrutinizing all aspects of the mortgage process, not just a borrower's creditworthiness. These days, even a borrower with a high credit score, a cash down payment and verifiable income can run into snags in the mortgage approval process if the lender's underwriters are concerned about the value of the property.