Mortgage underwriter explains loan conditions and document requirements visually

TL;DR

Why mortgage underwriters use CrankWheel: Loan officers don’t understand condition lists—they need to see the calculation or guideline that triggered each requirement. With CrankWheel, underwriters share their screen mid-call in 5 seconds, walk through DTI worksheets and credit reports visually, and get the right documents on the first try. Underwriters report revision cycles dropping from 3.2 to 1.4 per file, and clear-to-close timelines shrinking from 18 days to 12. The recording feature creates compliance documentation and reusable training materials.

The Old Way: Frustration All Around

Mortgage underwriting has a communication problem.

Underwriters send condition lists. Loan officers don’t understand why certain documents are needed. Borrowers feel like they’re being asked for the same information repeatedly. Files bounce back and forth. Closings get delayed.

Benjamin used to write conditions like this:

“Prior to closing: Provide explanation letter for 2021 collection account.”

The loan officer would call. “Why do they need a letter? The collection is paid.”

Benjamin would explain over the phone: paid collections under $500 that are older than 12 months don’t automatically require letters, but this one appeared after the initial credit pull, which triggers a different guideline…

By the time he finished explaining, the loan officer had checked out. The explanation didn’t stick. Two days later, the wrong letter would arrive.

The New Way: Show the Guideline

Now Benjamin handles the same situation differently.

“Let me show you exactly why we need this,” he says. He shares his screen in 5 seconds using CrankWheel. No download. No meeting link. Just a text message and the loan officer sees his screen.

He pulls up the credit report. “See this collection? It wasn’t on the initial credit pull from January. It showed up on the refresh pull we ran last week. When new derogatory items appear after initial approval, Fannie Mae requires an explanation regardless of amount or age.”

He opens the Fannie Mae guideline document and highlights the relevant paragraph.

“That’s why the standard ‘paid collection’ exception doesn’t apply. The letter just needs to explain what the collection was for and confirm it’s resolved. One paragraph.”

The loan officer gets the right letter on the first try.

What Underwriters Actually Do

Most borrowers think underwriters just say yes or no. The reality is more complicated.

Underwriters analyze risk across multiple dimensions:

• Income stability - Will this borrower keep earning enough to pay?
• Credit behavior - How have they handled debt in the past?
• Asset verification - Is the down payment real and properly sourced?
• Property value - Is the collateral worth what they’re paying?
• Debt ratios - Can they handle the new payment plus existing obligations?

Each dimension has guidelines, exceptions, and edge cases. When something doesn’t fit neatly into the guidelines, underwriters have to explain their reasoning.

That explanation is where visual communication changes everything.

A Typical Morning: The DTI Conversation

Benjamin’s first call is with Sarah, a loan officer who doesn’t understand why her borrower’s debt-to-income ratio calculation doesn’t match her own.

“I have them at 41%,” Sarah says. “You have them at 44%. That’s the difference between approval and denial.”

Benjamin shares his screen. “Let me show you the math. I’ve emailed you a link, just click it and you’ll see.”

He opens the DTI worksheet:

Income Calculation:

• Base salary: $6,250/month (verified)
• Overtime: $450/month (2-year average)
• Bonus: $0 (only 1 year history, can’t use)
• Total qualifying income: $6,700/month

“You included the bonus at $200/month,” Benjamin points out. “But they’ve only been at this employer for 14 months. Bonuses require 2-year history.”

Sarah sees it immediately. “Oh. I thought the history requirement was for the job, not the bonus specifically.”

“Common mistake. Now look at the debt side.”

Debt Calculation:

• Proposed housing payment: $2,150
• Car loan: $425
• Student loans: $380
• Credit card minimum: $0 (paid in full monthly)
• Total obligations: $2,955

“You had the student loans at $280. But they’re on income-based repayment. We have to use 1% of the balance when the payment is lower than that calculation.”

The call takes 8 minutes. Sarah understands exactly why the numbers differ. She can explain it to the borrower. No back-and-forth emails. No confused phone calls next week.

The Comparison That Matters

Benjamin keeps track of how his files progress. The difference between phone-only explanations and screen sharing is measurable:

The number of conditions doesn’t change. Underwriting standards are underwriting standards. But the clarity of communication makes those conditions get satisfied correctly the first time.

Afternoon: The Appraisal Issue

At 2 PM, Benjamin reviews a file where the appraisal came in $30,000 below the purchase price.

The loan officer, Marcus, wants to know the options. Benjamin shares his screen showing the appraisal report. “Go ahead and type in meeting.is/marcusunderwriter and tell me the number you see, and I’ll let you see my screen.”

“The appraiser used three comps. Look at comp number two.” He highlights it. “This sale closed 14 months ago. Our guidelines require comps within 12 months unless there are no recent sales. There were two sales within 12 months in the same subdivision.”

He pulls up the MLS data. “See? These two closed in the last 6 months. Both support a higher value than the appraisal.”

“So we can challenge it?” Marcus asks.

“We can request reconsideration. I’ll show you how to document the request.” Benjamin opens a reconsideration template. “Cite these two recent sales, include the MLS sheets, and note that the existing comp was outside the time guideline.”

Marcus submits the reconsideration request that afternoon. The appraiser revises the value upward by $22,000. Close enough to make the loan work with a slightly higher down payment.

The Asset Verification Puzzle

Benjamin’s trickiest call comes at 4:15 PM. The borrower has $85,000 in their checking account but the source is unclear.

“There’s a $42,000 deposit three weeks ago,” Benjamin explains, sharing the bank statement on screen. “When deposits exceed 50% of the loan amount or 25% of monthly income—whichever is greater—we need to source them.”

The loan officer, Kim, sighs. “They said it was from selling their old car.”

“Perfect. We just need documentation. Bill of sale, title transfer, anything showing the transaction.”

He shows Kim what the documentation should look like. “The amount on the sale document needs to match the deposit within reason. If they sold the car for $40,000 and deposited $42,000, we need to explain the $2,000 difference.”

Kim gets the right documents on the first request. The file moves to clear-to-close two days later.

Recording for Training

Benjamin spends Friday afternoons recording explanations of complex underwriting scenarios. He uses CrankWheel’s sales video platform to capture his screen while he walks through unusual files.

“This is a non-QM bank statement loan,” he says into the recording, showing his webcam as an overlay on the screencast he is recording. “The borrower is self-employed and uses 24 months of deposits instead of tax returns to qualify. Let me show you how to calculate qualifying income.”

He walks through the deposit analysis, expense factor, and resulting income number.

These recordings become training materials for new loan officers. Instead of scheduling web conferencing sessions for live training, Benjamin sends links. Loan officers watch at their own pace and replay confusing sections. Some loan officers use these prospecting videos to explain complex scenarios to their own borrowers.

The Compliance Benefit

Underwriting decisions need documentation. When regulators or investors review files, they want to see the reasoning behind approvals and conditions.

Benjamin’s screen recordings serve a second purpose: compliance evidence. Each recording shows exactly what information was reviewed and why specific decisions were made.

“We had an investor audit last quarter,” Benjamin says. “They questioned a self-employed income calculation. I pulled up the recorded session where I walked through the analysis. They saw exactly how we arrived at the number. Question closed.”

Why Transparency Matters

Mortgage underwriting feels arbitrary to borrowers. They submit documents. They wait. They get asked for more documents. They don’t understand why.

Visual explanation changes the dynamic. When underwriters show borrowers (via their loan officer) exactly why a condition exists, frustration turns into understanding.

• “Why do you need my divorce decree?” → “Let me show you the alimony calculation that requires this document”
• “Why does my credit score matter so much?” → “Look at how the rate changes at each credit tier”
• “Why do you need two years of tax returns?” → “Self-employment income is calculated like this…”

Understanding builds trust. Trust reduces complaints. Fewer complaints mean faster closings.

The Technology Setup

Benjamin’s screen sharing setup is minimal:

• CrankWheel Chrome extension
• Dual monitors (one for the file, one for sharing)
• Standard underwriting software
• Guideline documents bookmarked for quick access

He doesn’t need video. Loan officers and borrowers don’t need to see his face (although he could show it if he wanted to). They need to see the numbers, the guidelines, and the documents that drive decisions.

The 5-second connection time matters. When a loan officer calls with a question, Benjamin can share his screen before the conversation gets frustrating. No scheduling. No meeting links. No “can you see my screen yet?”

End of Day

Benjamin reviews his metrics at 5:30 PM:

• 14 condition calls handled
• 6 files moved to clear-to-close
• 3 training recordings completed
• 0 escalations to management

Before screen sharing, the same workload would have generated 2-3 escalations from frustrated loan officers who didn’t understand why their files were being conditioned.

The technology didn’t change underwriting standards. It changed how those standards get communicated. And that communication difference shows up in every metric that matters.

Frequently Asked Questions

Can I start a CrankWheel screen share during a phone call without scheduling anything?

Yes. CrankWheel is designed for spontaneous screen sharing. When a loan officer calls with a question, you click the CrankWheel button, send them a link via text or email, and they’re viewing your screen in 5-10 seconds. No calendar invite, no meeting room, no “let me set up a Zoom.”

Does CrankWheel require the loan officer to install anything?

No. The loan officer clicks the link and sees your screen in their browser immediately. This works on phones, tablets, and computers. Underwriters appreciate this because loan officers are often calling between client meetings—they won’t stop to download software for a quick question.

Can I record CrankWheel sessions for compliance documentation?

Yes. CrankWheel’s recording captures your screen and voice. Underwriters use this to document their reasoning on complex files. When an investor or auditor questions a decision, you can show the recorded session where you walked through the analysis. The recording link is shareable and plays in any browser.

How does CrankWheel help with training new loan officers?

Record yourself walking through complex scenarios—self-employment income, bank statement analysis, unusual credit situations. Send the link to new loan officers. They watch at their own pace, replay confusing parts, and reference the recordings when similar files come up. No need to schedule live web conferencing sessions for repetitive training.

Can loan officers share my CrankWheel recordings with their borrowers?

Yes. Recording links work for anyone with the link. Some loan officers forward underwriting explanations to borrowers who want to understand why specific documents are needed. This transparency reduces borrower frustration and speeds up document collection.