Not sure is this is a tip or if I just want to vent...I'll let you guys decide. Desk Top Underwriter® has a section at the very end of the findings called the Underwriting Anaysis report; this section mimics the 1008 (Transmittal Undewriting Summary). In the reserves section of the Underwritings Anaysis report is the amount of cash the borrower will have left after they pay closing cost. It does not matter what the asset section of the DU findings says ($1200 must be verfied, etc...). The amount the borrower has left over after closing cost MUST be equal to or more than the amount shown in under reserves. If anyone has any question let me know.
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D. Bass
Mortgage Underwriter & Trainer
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