Originating a mortgage is easy but when you have to go through manual processes it can be a bit tedious. You have to visit the credit union or bank for the loan application, then after it gets qualified you have to bring your documents and wait for the loan certificate. This can be hectic. But with the help of technology, you can check if you pre-qualify and apply for the mortgage. Let’s check out how easy this process is. Pre-qualification: To opt for Mortgage Origination you have to go through the pre-qualification first. You have to provide some documents that will vouch for your eligibility for the mortgage. You may have to submit payment history, total household income, information on tax returns, bank statements and so on. Once you submit the same to the lender, these will be processed to check if you can obtain the loan. Loan application: After you are qualified for the mortgage, you just have to use your laptop or PC and apply for the loan through the bank website. You can also use an app of the credit union, and you will get detailed information on the type of loans you can apply for. Application processing: Once you applied for the Mortgage Lending, your application will go into processing. You have to wait a little bit for the system to approve the details you have entered. Once everything is processed you will get a notification in your mobile that your loan is processed successfully. Underwriting system: When the loan process is almost complete the underwriting system starts. The company who is ensuing you the loan will go through your documents, and make sure you have a good credit score and so on. Sometimes this is a fully automated system, then other times it can be both. Lastly, there will be credit decision, quality control and then you will get the fund in your bank account. With the help of the latest technology, you can get a fully automated process for mortgage acquiring. Source URL: What are the Steps of Mortgage Origination?