Fill out loan underwriting forms
with AI.
Loan underwriting forms are the standardized documents that lenders, mortgage brokers, and financial institutions use to evaluate, document, and communicate the details of a loan before it is approved or sold on the secondary market. These forms capture everything from borrower income and credit history to property valuations, loan terms, and risk assessments — ensuring that all parties involved in a transaction have a clear, consistent record of the underwriting decision. In the mortgage industry in particular, accurate completion of these forms is not optional; it is a regulatory and contractual requirement.
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About loan underwriting forms
The forms in this category are most commonly used by mortgage originators, underwriters, and compliance teams working with conforming loans destined for agencies like Fannie Mae or Freddie Mac. A key example is the Uniform Underwriting and Transmittal Summary (Form 1008/1077), which serves as a cover sheet summarizing the entire loan file when a lender delivers a mortgage to the secondary market. Whether you are a loan officer preparing a file for investor delivery or an underwriter reviewing qualifying ratios, these documents play a central role in the process.
Because these forms often involve dense financial data and must be completed with precision, tools like Instafill.ai use AI to fill them out in under 30 seconds — reducing manual entry errors and keeping sensitive borrower information secure throughout the process.
Forms in This Category
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How to Choose the Right Form
With only one form in this category, the choice is straightforward — but understanding when and why you need it will help you complete it correctly.
Who Needs This Form?
The Uniform Underwriting and Transmittal Summary (Fannie Mae Form 1008 / Freddie Mac Form 1077) is required for mortgage professionals — specifically lenders, loan officers, and underwriters — who are selling or delivering conforming mortgage loans to the secondary market.
You need this form if:
- You are a lender delivering loans to Fannie Mae or Freddie Mac
- You need to document underwriting decisions for a conforming mortgage
- You are assembling a loan file that requires a standardized cover sheet and transmittal package
What It Covers
This single form consolidates everything reviewers and investors need at a glance:
- Borrower income and qualifying ratios
- Property details and loan terms
- Risk assessment findings
- Seller and lender contact information
When You Do NOT Need This Form
Skip this form if you are working with:
- FHA or VA loans — those programs use their own underwriting summaries
- Non-conforming or jumbo loans not sold to Fannie Mae or Freddie Mac
- Private or portfolio lenders with their own internal underwriting documentation
Tips for Completing It
- Ensure all borrower income figures match your supporting documentation before filling out the form
- Double-check that loan terms and property details align with the full loan file
- If you have a non-fillable PDF version, use Instafill.ai to convert it into an interactive form and complete it accurately with AI assistance
Since this is the only standardized form in this category for conforming loan delivery, your next step is simply to gather your loan file details and begin filling it out.
Form Comparison
| Form | Purpose | Who Files It | When to Use |
|---|---|---|---|
| Uniform Underwriting and Transmittal Summary (Fannie Mae Form 1008 / Freddie Mac Form 1077) | Summarizes loan underwriting data for secondary market delivery | Mortgage lenders and originators selling conforming loans | When delivering conforming loans to Fannie Mae or Freddie Mac |
Tips for loan underwriting forms
The debt-to-income (DTI) and housing expense ratios on Form 1008/1077 must align precisely with your loan file calculations. Errors in these ratios are a leading cause of submission delays or secondary market rejection. Verify that gross monthly income figures and total monthly obligations match your supporting documentation exactly.
Form 1008/1077 acts as a cover sheet summarizing the full underwriting file, so any discrepancy between this form and documents like the 1003 (Uniform Residential Loan Application) or appraisal report can raise red flags. Cross-reference borrower income, property value, and loan terms across all documents before packaging for delivery. Inconsistencies — even minor ones — can trigger investor repurchase demands.
AI-powered tools like Instafill.ai can autofill loan underwriting forms like Form 1008/1077 with high accuracy, dramatically cutting down manual data entry time — especially when processing multiple loan files. Your data stays secure throughout the process, making it a practical choice for busy mortgage professionals. It also converts non-fillable PDF versions into interactive forms, so you're never stuck with a static document.
Form 1008/1077 requires precise coding for loan purpose, occupancy type, property type, and amortization type. Misclassifying a property as a primary residence when it's an investment property, for example, can have serious compliance consequences. Always confirm these classifications with the borrower and the loan file before completing the form.
If the loan was run through an Automated Underwriting System (AUS) such as Desktop Underwriter (DU) or Loan Product Advisor (LPA), the recommendation and case/file number must be recorded correctly on the form. An outdated or mismatched AUS finding can cause the loan to be ineligible for secondary market delivery. Always use the most current AUS run that reflects the final loan terms.
The transmittal section of the form requires complete lender and seller contact details, including institution name, address, and loan number. Missing or incomplete seller information can delay the loan delivery process to Fannie Mae or Freddie Mac. Keep a template with your organization's standard fields pre-populated to avoid omissions.
Since Form 1008/1077 consolidates data from multiple sources — income calculations, appraisal, credit report, and AUS findings — gather all supporting documents first before filling it out. Trying to complete the form without all data on hand increases the risk of placeholder errors that get overlooked. A complete loan file review upfront saves significant correction time later.
Form 1008/1077 is an internal lender document and part of the loan delivery package to the secondary market — borrowers do not sign it. First-time processors sometimes confuse it with borrower-facing forms and route it incorrectly. Make sure it is completed by the underwriter or authorized loan professional and retained in the lender's file as part of the closed loan package.
Frequently Asked Questions
Loan underwriting forms are standardized documents used by lenders and mortgage professionals to document, analyze, and communicate key details about a borrower's loan application. They capture critical data such as income, property information, loan terms, and risk assessments to support lending decisions and secondary market transactions.
This category currently includes the Uniform Underwriting and Transmittal Summary, known as Fannie Mae Form 1008 and Freddie Mac Form 1077. It is one of the most widely used standardized forms in the conforming mortgage industry.
Mortgage lenders and originators are required to complete this form when selling or delivering conforming mortgage loans to Fannie Mae or Freddie Mac. It is typically prepared by underwriters or loan processors as part of the loan file package.
The form is required at the time a lender delivers a conforming mortgage loan to Fannie Mae or Freddie Mac for purchase on the secondary market. It must accompany the complete loan file to ensure all underwriting decisions and loan characteristics are properly documented.
The completed Uniform Underwriting and Transmittal Summary is submitted as part of the loan delivery package to Fannie Mae or Freddie Mac, depending on which agency is purchasing the loan. It acts as a cover sheet that consolidates key underwriting data for the investor's review.
Loan underwriting forms generally require details about the borrower's income, employment, credit profile, property information, loan terms, qualifying ratios, and the lender's risk assessment findings. Having the complete loan application file and supporting financial documents on hand will make the process much smoother.
Yes, AI-powered tools like Instafill.ai can fill out loan underwriting forms in under 30 seconds by accurately extracting and placing data from your source documents. Instafill.ai can also convert non-fillable PDF versions of these forms into interactive, fillable formats.
Manually completing a form like the Uniform Underwriting and Transmittal Summary can take anywhere from 15 to 45 minutes depending on the complexity of the loan file. Using an AI tool like Instafill.ai, the same form can be populated accurately in under 30 seconds by pulling data directly from uploaded source documents.
Yes, the Uniform Underwriting and Transmittal Summary is a standardized form jointly recognized by Fannie Mae and Freddie Mac, meaning all conforming lenders use the same document format. This standardization ensures consistency and comparability when loans are reviewed and purchased on the secondary market.
Fannie Mae Form 1008 and Freddie Mac Form 1077 are actually the same standardized document — the Uniform Underwriting and Transmittal Summary — just referenced under different form numbers by each agency. The dual designation reflects that both government-sponsored enterprises require and accept this identical form for loan deliveries.
Some versions of loan underwriting forms are distributed as non-fillable PDFs, which typically require PDF editing software or printing and handwriting to complete. Platforms like Instafill.ai can convert these non-fillable PDFs into interactive fillable forms, making the process faster and more convenient.
The forms in this category, such as the Uniform Underwriting and Transmittal Summary (Form 1008/1077), are specifically designed for residential conforming mortgage loans sold to Fannie Mae or Freddie Mac. Commercial loans and non-conforming products typically use different documentation processes and forms.
Glossary
- Loan Underwriting
- The process by which a lender evaluates a borrower's creditworthiness, income, assets, and the property value to determine whether to approve a mortgage loan and under what terms.
- Secondary Market
- The marketplace where lenders sell mortgage loans to investors (such as Fannie Mae or Freddie Mac) after origination, allowing lenders to free up capital to issue new loans.
- Conforming Loan
- A mortgage loan that meets the guidelines set by Fannie Mae and Freddie Mac, including loan limits, credit requirements, and documentation standards, making it eligible for purchase by those agencies.
- Fannie Mae / Freddie Mac
- Government-sponsored enterprises (GSEs) that purchase conforming mortgage loans from lenders, set standardized underwriting guidelines, and help provide liquidity to the U.S. housing market.
- Qualifying Ratios
- Two key debt ratios used in mortgage underwriting: the front-end ratio (housing expenses divided by gross income) and the back-end ratio (all monthly debts divided by gross income), used to assess a borrower's ability to repay.
- Transmittal Summary
- A cover document that accompanies a loan file when delivered to an investor or agency, summarizing the key underwriting data and decisions in a standardized format for review.
- AUS (Automated Underwriting System)
- Software used by lenders to automatically evaluate a loan application against agency guidelines, producing a risk assessment recommendation such as 'Approve/Eligible' (Fannie Mae's DU) or 'Accept' (Freddie Mac's LPA).
- LTV (Loan-to-Value Ratio)
- The ratio of the loan amount to the appraised value or purchase price of the property, expressed as a percentage; a higher LTV indicates more risk to the lender.
- DTI (Debt-to-Income Ratio)
- The percentage of a borrower's gross monthly income that goes toward paying all monthly debt obligations, used by underwriters to gauge repayment capacity.
- Originating Lender / Seller
- The financial institution or mortgage company that initially issues the loan to the borrower and later sells or delivers that loan to a secondary market investor such as Fannie Mae or Freddie Mac.