Mortgage Lending · Underwriting
Credit exception request procedures
An internal guide explaining how underwriters request and obtain approval to make a loan that falls outside standard credit guidelines.
What it usually contains
- Types of guideline variances that may be considered, and those never allowed
- Compensating factors required to support an exception (reserves, equity, credit depth, employment history)
- Approval authority levels and dollar or risk thresholds for each signer
- Required documentation and the written justification format
- Tracking, reporting, and audit expectations for approved exceptions
What the assistant uses it for
Answering who can approve a loan that misses a guideline, what evidence must accompany the request, and which variances are off limits. Also useful for understanding how exceptions are logged and reviewed for loan quality and regulatory exams.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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