According to underwriters, what is the biggest grievance with mortgage applications?

The biggest grievance for underwriters regarding mortgage applications is often associated with insufficient notes provided. When underwriters review mortgage applications, clear and comprehensive documentation is vital for them to accurately assess the creditworthiness of the applicant. If there are insufficient notes explaining the financial background or circumstances surrounding the application, it can lead to confusion, delays, and potentially the need for additional communications. This lack of clarity can impede the underwriting process and affect decision-making.

Detailed notes help underwriters understand the context around financial information, which is key in evaluating risks associated with lending. The clearer the information provided, the more confidence the underwriter can have in approving or recommending a mortgage application. In contrast, while the other options are certainly issues that can arise in the application process, they do not encompass the same breadth of impact on clarity and confidence in underwriting as insufficient notes do.