Ohio Loan Underwriter

[Saul Howard]

Anyone work on loan underwriting in the state of Ohio. I am trying to better understand the loan process and specifically want to know what sort of due diligence is done on the current lien holder on a property during a refinance, if any. For example, if my current mortgage is with Random Mortgages and I'm looking to refinance a primary residence with New Ohio Lender, is there any investigation done by the underwriter for New Ohio Lender on Random Mortgages? Or is it simply just asking for the payoff amount and cutting them a check for the refinance given the property appraises? Also, my understanding on primary residences is that you can do a no-cash out refinance for 95% LTV. So New Ohio Lender can pay Random Mortgages up to 95% of the appraisal value.