Covers all income types and best practices for calculating and verifying borrower income accurately.
Last week’s blog we went over the differences for self-employed borrower’s income calculations between FHA and the conventional loan programs from Fannie & Freddie Mac. The article was well received, and we
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 career mainly working in the
Over the last few days we have been putting the final touches on our 2018 underwriting training courses launching March 2nd. While I was reviewing the rental income course I
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
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 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
Credit reporting agencies have changed the rules. The question of judgments and tax lien payoffs has come up at multiple lenders. Multiple different lenders have contacted me with questions from
One of the basic requirements from both FNMA and FHLMC is for the underwriter to determine the stability of the income used to qualify. This is where the concept of
When working with borrower’s just into retirement years they sometimes come with a unique challenge of FANTASIC credit, TONS of assets, but low-income due to being retired. Nothing more frustrating
Everyone wants a good deal when buying their next home. Some of the best deals are found on homes that have been foreclosed or purchased at an auction. However, these good
