3 Compelling Reasons Why You Need to Show Your Math
When I was in school if you asked me what my favorite subject was I would have told you math. Not really because it was my favorite, but it was my “least hated” subject anyway. The reason it made my favorite list is math has a nice way of being absolute in most cases. Put […]
Four options for determining student loan payments
As a parent with two kids attending college the discussion of getting through college with minimal student debt (or none at all) has been a topic for the last 5-6 years around my household. I have tried to educate my kids on the pro’s and cons’ of student loans and making student loan payments. I […]
FNMA SEL 2016-05 New Guidelines for 1065/1120S
One of the most common topics I run across for self-employed borrowers is the discussion on ”The dreaded Distribution Versus Ordinary Income”. Even though the guidelines clearly outlined these requirements for years, they never seemed to be enforced. The guidelines were largely ignored by lenders selling to both agencies. Since FNMA has brought the distribution […]
How to handle any rental income – part 3
Last but not least (and probably the most used form of rental calculations) part 3 of 3 of “Rental income from non-subject properties”. Be sure to read parts 1 and 2 to get up to speed on this entire topic. As a quick recap this three-part blog broken down into these topics in regards to […]
How to handle any rental income – part 2
Welcome to part 2 of 3 of “How to handle any rental income” series. In case you missed the first installment you can catch up by clicking this link “How to Handle Any Rental Income Part 1” As a quick recap this three-part blog broken down into these topics in regards to rental income. Rental […]
How to handle any rental income – part 1
This blog is going to be a three-part series, I want to break down the information for FNMA and FHLMC loans in the following three categories. 2-4 unit primary residence rental income Rental income for subject property Rental income for non-subject properties (including when the borrowers business owns a property) So let’s get started on […]
Reuse existing appraisal to save money
Sometimes when competing for a new loan, your running “neck and neck” on the offered interest rate and need to find little edge to win over your competition, and that edge is lower costs. One of the biggest expenses for a refinance is the appraisal. Did you know you can re-use the borrower’s appraisal one […]
Bye Bye Continuity of Obligation
During the recent “dark age” of the mortgage business FNMA put continuity of obligation rules in place to try to slow down the real estate crash. Terms like buy and bail, declining markets, short sale, departure residence reserves, and many more became normal parts of conversations in countless mortgage shops across the nation. Continuity of obligation […]
REO Changes FNMA SEL 2016-03
Working in the mortgage business sometimes I forgot that FHLMC and FNMA are competing companies, most lenders work with both companies so they just seem to complement each other not compete! Changes like FNMA SEL 2016-03 shows that they definitely compete with each other. FHLMC changed their maximum number of financed properties from four to […]
Mortgage Women Magazine
UberWriter is in the news See our write up in Mortgage Women Magazine. http://www.mortgagewomen-digital.com/mwmag/march_2016?pg=36#pg36 Michael Whitbeck and David Stamm sat down with AR Smith to discuss the challenges underwriters face. By far determining a borrower’s income accurately as well as quickly is top of the list. A.R. Smith is the CEO/President of AR Consulting Partners […]