Two or more Lenders Underwriting at the same time. Pros/Cons

[Manley Seale]

HI there. I tried to search this question and didn't have any luck. Are there any issues to giving two or more lenders the go ahead to underwrite a loan proposal simultaneously? To clarify, if I have two or more lenders who have given me pre-approval and a LOI on terms, are there any drawbacks to giving them both the greenlight to move forward to underwriting at the same time?

Thanks!