DU Tip Data Integrity

I am sure you have heard the saying before "You must have Data Integrity when submitting a loan to DU or LP". This means that everything you have entered in the AU systems is verified in the loan file as being true and accurate by the time it goes to underwriting. The primary purpose of the underwriter is to verify data integrity. If you're good and matching the information from the loan docs to the information entered in the AU systems you will never loose your approval from DU or LP when the underwriter reviews the file.

Some good examples of this are:
Income not calculated correctly. It is always a good idea to show the underwriter how you calculated the income. Always make sure your year to date makes sense with the income you are using to qualify the borrower
Enter the income in the appropriate category. Example don't enter commission income as base income. I see this happen quit often. Commission income was entered as base income and DU gives a verbal waiver but when the income is moved to the appropriate category of commission income sometimes the verbal waiver is lost.
Assets listed but not verified. DU is changing next week you don't want the underwriter running your loan without the assets that you plan on verifying and risk loosing your approval (the underwriter doesn't know that you are going to verify more assets).
Listing a borrower as salary employee vs. being self employed or visa versa.
We could probably could cover many more scenarios but this should give you a good idea. Remember DU changes next weekend and although they say it will not impact loans already submitted, that has not been my experience in the past. Please make sure you files are up to date and have data integrity before next weekend.

Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to www.naultfhatips.blogspot.com or www.mtgview.blogspot.com