An employee of a mortgage banking company or lending institution, who reviews a loan application, verifies all information is accurate and makes a recommendation to a loan committee as to the desirability and risk of making the loan. The underwriting process is a critical part of the overall lending process.
In mortgage banking, the analysis of the risk involved in making a mortgage loan to determine whether the risk is acceptable to the lender. Underwriting involves the evaluation of the property as outlined in the appraisal report and of the borrower’s ability and willingness to repay the loan.
U. S. Treasuries
Only treasuries with an original term of 30 years are Bonds. All treasuries with original terms of 2-10 years are Notes. Anything shorter than two years is a Bill.