Christmas season is a fantastic time of the year, but it can be very distracting! The month of December is full of work parties, time with family, and a crazy school schedule for the kids which are all things we don’t normally deal with.  This all can lead up to distractions at work!   I wanted to create this blog with a quick list of some of […]

When I read LinkedIn from time to time, I have seen some funny memes on why people’s loans have died during the underwriting process.  You know the culprits such as buying a new car, taking a cash advance on a credit card, and getting a new job!  I agree with mortgage sales leaders that teach their followers about preparing your client to experience the mortgage process with […]

In my last blog, I set the stage on practical applications for the new RU/RSU income.  I also went over some of the guidelines which outline when and how the income can be used.  For this installment, let’s get down to the “how” to properly calculate income.  In case you missed part 1 here is the link  “Part 1 RSU/RU the “new” income on the block..”   […]

I was at a compliance conference a few weeks back in Pontiac, Michigan, it was a great event put on by FIC Conferences.  I had a question come up about Restricted Stocks which to me is a “new” income!  Restricted Stocks were added to FHLMC guidelines 09/14/2017 with Bulletin 2017-20.  Not many people know of this change to the rules!  Freddie added this income as allowable because […]

Let’s imagine you got lucky while you were on your vacation to Australia and won $10,000 at the Crown Melbourne Casino and want to use that income to help pay for your mortgage??   ..sorry Charlie!  The foreign income we are going to talk about today is when a citizen earns income from a foreign corporation or government on a regular basis that you want to use to […]

We have upgraded UberWriter with some new functionality.  Read on in the blog as we weave some underwriting knowledge with some product update news. One of the lessons I learned during my underwriting career is that the most likely reason a borrower defaults is due to their DTI.  The DTI either starts off to excessive or becomes too excessive after the loan closes and they can no […]

I have been writing blogs for UberWriter since 2013 on many different underwriting topics.  While putting together some training information I realized that I have zero blogs about P/L’s in all six years!  I was pretty surprised by that statistic since the question of P/L’s comes up quite a bit between April and October mainly for self-employed borrowers who have extended their tax filings. What I wanted […]

 I just read an interesting article on the Freddie Mac site from MBO Partners, it was called “The State of Independence In America”.  The findings of this article show that Americans who are independent contractors have grown 4.4% in 2018 total a total of 42 Million adult workers. With that much of the work force involved in this new economy I think we need to sharpen our […]