When you apply for a loan, the process of reviewing your application is known as underwriting. An underwriter is responsible for reviewing the a borrowers application, in addition to any supplemental information provided, in order to determine their creditworthiness and ability to fulfill the responsibilities associated with the loan product. Mortgage underwriting also takes into consideration the property in question. A lender will generally not offer a mortgage for a significant amount above what they believe a property is worth because the loan is secured by the property in the event of default. Underwriting is used in many different industries, including mortgage financing, insurance and investing. The principe of underwriting is the same for every industry. Your application is reviewed to determine whether or not you meet the criteria set forth for the product you are seeking.