Mortgage origination

During this process, borrowers must submit various types of financial information and documentation to a mortgage lender, including tax returns, payment history, credit card information and bank balances.

Mortgage lenders use this information to determine the type of loan and the interest rate for which the borrower is eligible.

The process in the United States has become complex due to the proliferation of loan products and consumer protection regulations.

[1] The mortgage origination, a subset of loan origination, is a complex and evolved process that involves many steps, in purple, which varies from lender to lender.

The basic steps include The mortgage origination process in the United States is required to comply with the following regulations: Mortgage origination tools fall into three categories: