Covers all income types and best practices for calculating and verifying borrower income accurately.
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
Mortgage, notes, and bonds due in under 1 year is a line item well known, but little discussed in the guidelines. This single item on a self employed borrower can
One of the more unusual income types that you will run across is a statutory employee. You can spot them right away when you are looking at their pay stubs.
We all can relate to those hard to find answers on questions about non occupant borrowers. This has a lot to do with how infrequent an application with these borrowers comes along.
Gift funds are still a top question I receive in underwriting, even though the rules have not really changed since I started in the mortgage business. I want to provide
The answer to this question has changed for the better as of April 25, 2017. Fannie Mae continues to improve and streamline the loan approval process with SEL 2017-04. In
When you have a borrower that has taken rental properties a little more serious the average rental investor and has multiple rental properties, how many will FHLMC finance? Recent selling
A common question I get in underwriting is “my borrower works overtime at his new job he started “x” number of months ago, can I use it?” . Of course,
Sometimes you need that extra income to get your borrower over the DTI hump to move them from declined to qualified. One item that many loan officers want to turn
