PUD, Condo, or Co-op?
As subject matter experts on Project Reviews, we have often been invited as guest speakers to discuss the topic of project types and how they
April 5, 2019
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Blog
Condo Review… Step by Step
For those of us who have worked in the mortgage industry long enough to become comfortable and familiar with all the jargon and acronyms, it
February 28, 2019
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2018 Tax Reform and Alimony Income Calculations
Our last blog we talked about how the changes to the 2018 1040 tax form affected mortgage underwriting requirements. The key topic in that blog was that mortgage calculations
February 19, 2019
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AGI vs SAM Income Calculation Methods
One great thing about being involved with UberWriter is the chance to discuss different topics with mortgage professionals from different positions and companies. This allows
January 9, 2019
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Two questions to ask if using business assets
When I am teaching about underwriting topics, Allregs makes some guidelines very clear which leaves no room for any grey area. Then there are those
November 14, 2018
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FHLMC changes student loan programs
On Freddie Mac’s home page, you will see the tag line “We Make Home Possible”, when I see changes in the guidelines as outlined on
September 12, 2018
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Avoid 3 Major Mistakes with FHLMC Form 91
I would bet at one time or another you have Googled Freddie Mac Form 91 and gave it a try. The purpose of this form
July 11, 2018
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How to use FNMA 1039 on Form 8825
I have often said that growing a business has many similarities as raising kids. Every business owner knows that you must spend countless hours helping
June 27, 2018
1 Comment
Income calculation – Explained!
When I worked as a mortgage recourse auditor, I had to play a game daily called “where’s waldo”. I am sure you have heard of
June 15, 2018
4 Comments
Top 3 lessons on FNMA Day 1 Certainty
Over the last twelve months I have been confronted with quickly learning the in’s and outs of Fannie Mae Day 1 Certainty program, this blog
May 15, 2018
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Let’s talk FHA & self-employed borrowers!
One of the more challenging areas in building UberWriter is getting agreement from FHA DE’s on the details of determining self-employed income. I spent my
March 21, 2018
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Exclude Other|Paid Borrower Debt on FHLMC Loans?
Off and on for the last few years I have been a volunteer financial coach at my church using the Financial Peace University program created by Dave Ramsey. This is a fantastic program that provides all you need to know about how to keep a “peaceful” balance of money in your life.
December 6, 2017
1 Comment
#1 mistake for a cash out delayed financing loan!
The conventional (FNMA/FHLMC) cash out delayed financing exception program seems to carry a lot of misinformation with the program. I think the reason behind this top mistake is it isn’t a widely used program. Unless you work at a lender where the sales staff has a good clientele of rehabbers or investment property purchasers, you may not see this program.
November 22, 2017
15 Comments
Major changes to student loan rules for FHLMC
The challenge of estimating the effect student loans on a potential borrower’s ability to repay their mortgage still seems to be an issue at both Fannie Mae and Freddie Mac. With the rising cost of getting an education, making a wrong move now could be detrimental to the future of our industry.
October 24, 2017
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The problem with “other” income
A question that has come up in our email box recently is “Can I use “other income” noted on the VOE”? I think the increase of this question in our in-box has to do with the increased use of Fannie Mae’s Day 1 Certainty program. When I reply and ask a few questions it goes something like this.
October 10, 2017
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