Underwriting Cover Letters?

[peteybear]

Wino what age person and what's the face amount that causes the under writer to question

 

[WinoBlues]

Wino what age person and what's the face amount that causes the under writer to question

Dude, that was 4 years ago. I an a regular Wino not a Wino Savant.

I think that was a 75 +- Hmong woman on SSI I believe it was $75 - $100k. If it was got it issued with Genworth.

 

[Stevekobrin]

Unless it is a squeaky clean app, you are doing your client a disservice by not writing one. The underwriter needs your cover letter to turn the applicant back into a person. The cover letter needs to explain how great a person the applicant is, what the situation is, and how much he loves his family. Without that, it is just another number, just another piece of paper to the underwriter.

Also, I have seen cover letters and letters from the applicant turn a sure decline/flat extra case into a standard case. All it takes is one of those to pay for every single cover letter you'll ever write.

Absolutely right. We need to give our client some personality. A good cover letter can provide a backdrop to the purchase. It can shed a light on some positive factors that won’t necessarily be evident in the application disclosures.

Another benefit: the credibility of the broker goes up when he or she shows the underwriter that he did his homework. There is a higher incentive to give the applicant the benefit of the doubt.