This question is about what an underwriter does and underwriter.
Red flags for underwriters are issues that arise during processing and are questionable. Different types of underwriters have their red flags to look out for, but in general, underwriters are tasked to find suspicious discrepancies in applications to better assess financial risks.
This can make the processing time take longer as these issues arise and need to be fixed. For example, a mortgage loan underwriter will typically look at things like credit problems, high debt-to-income ratio, and large undocumented deposits. Some other general red flags are unstable job employment and low appraisal.
Overall, an underwriter must assess and evaluate financial risks to see if it's worth taking. So, these red flags are part of the evaluation.
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