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Mortgage Underwriting
Mortgage underwriting is the process a lender uses to determine if the risk (especially the risk that the borrower will default[1] ) of offering a mortgage loan to a particular borrower is acceptable and is a part of the larger mortgage origination process. Most of the risks and terms that underwriters consider fall under the five Cā€™s of underwriting: credit, capacity, cashflow, collateral, and character. (This is also known in the UK as the three canons of credit - capacity, collateral, and character.) To help the underwriter assess the quality of the loan, banks and lenders create guidelines and even computer models that analyze the various aspects of the mortgage and provide recommendations regarding the risks involved
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Regulatory Science
Regulatory science is the scientific and technical foundations upon which regulations are based in various industries ā€“ particularly those involving health or safety. Regulatory bodies employing such principles in the US include for example the FDA for food and medical products, the EPA for the environment, and OSHA for work safety. "Regulatory science" is contrasted with regulatory affairs and regulatory law, which refer to the administrative or legal aspects of regulation, in that the former is focused on the regulations' scientific underpinnings and concerns ā€“ rather than the regulations' promulgation, implementation, compliance, or enforcement.[
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