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  • 1008 Form

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1 Uniform Underwriting and Transmittal Summary I. Borrower and Property Information Borrower Name Co-Borrower Name Property Address Property Type 3XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX.

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FHA loan underwriting took an average of 54 days: 54 days for a new home purchase and 55 days for a refinance in 2021. New purchases ranged from 50 to 61 days in 2021, with refinances ranging from 60 to 65 days.

Form 1077 summarizes the Seller's underwriting of the Borrower.

Form 1008 by Fannie Mae, also known as the Uniform Underwriting and Transmittal Summary, is often used by lenders to analyze the key summary data of an application, and make underwriting decisions based on that.

The Uniform Underwriting and Transmittal Summary Form 1008 summarizes key data from the loan application package. Lenders use this information in reaching the underwriting decision. Form 1008 (or a similar document) must be retained in the mortgage file for manually underwritten mortgage loans.

An underwriter may deny a loan simply because they don't have enough information for an approval. A well-written letter of explanation may clarify gaps in employment, explain a debt that's paid by someone else or help the underwriter understand a large cash deposit in your account.

Underwriting simply means that your lender verifies your income, assets, debt and property details in order to issue final approval for your loan. An underwriter is a financial expert who takes a look at your finances and assesses how much risk a lender will take on if they decide to give you a loan.

About 8% of mortgage loans are denied in the underwriting process, so you've got about a 1 in 12 chance of having your mortgage denied after it once looked good enough to be approved.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232