"Overlays, or extra rules layered on top of standard guidelines, help lenders manage risk and ensure loans meet investor expectations. Those selling into the secondary market can use overlays to meet multiple investor standards, while portfolio lenders can align the technology with in-house credit policies. Our new underwriting overlays feature gives lenders the ability to instantly encode their own judgment and policies into Friday Harbor, said Theo Ellis, CEO and co-founder of Friday Harbor."
"Whether the goal is to expand credit access, tighten controls or ensure loans are salable across multiple investors, overlays put that guidance directly in front of originators so every file starts out underwriting-ready. The feature supports both lender and investor overlays, providing real-time guidance to help originators produce underwriting-ready files. Friday Harbor said it also offers a white-glove service, configuring and maintaining overlays for clients at no extra cost."
Overlays are extra rules layered on top of standard guidelines that help lenders manage risk and ensure loans meet investor expectations. Lenders selling into the secondary market can use overlays to satisfy multiple investor standards, while portfolio lenders can align the platform with internal credit policies. Friday Harbor’s underwriting overlays feature enables instant encoding of lender judgment and policies into the system. The feature supports both lender and investor overlays and delivers real-time guidance to help originators produce underwriting-ready files. A white-glove service configures and maintains overlays for clients at no additional cost. Improved alignment increases loan salability, reduces last-minute surprises, and lets teams focus on serving borrowers.
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