Underwriting Sense...into the mind of an Underwriter
What do they want NOW!!!
This is the Sub-Prime professionals revitialization course. This is the course for you. Underwriting Sense will give you the information you need to get your loans to the CLOSING table.
HOW?..by telling you what you need to know:
What The Underwriter Is Looking For!
This course goes over:
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Areas Commonly Missed on the 1003- we will go over the areas that slow your loan down in underwriting (you'll be very surprised!)
- AUS Tips- the industry is moving back to DU (FannieMae) & LP (Loan Prospector) explains what areas you are overlooking and breaks down the conditions that are commonly misunderstood
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Reviewing the Credit Report- goes over the credit report as an underwriter would
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Income Calculation- examples of diffrent types of paystubs and calculations for income
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Stated Income the Right Way!- discover diffrent techniques to make your income stronger
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Asset Verification- assets will be shown and disclussed as well as tips on how to verify them
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Title Issues- title issues will be discussed
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Appraisal Review- the appraisal will be reviewed from the underwriters point of view
FHA for Originators & Processors
FHA: Not Sub-prime, but definitely an alternative!
STOP TURNING DOWN BUSINESS!
If you aren't currently doing FHA loans or need a refresher course, this is the course for you. This course is taught by a seasoned DE Underwriter and breaks down the FHA mortgage process in a sensible, upbeat and interactive way!
Introduction to FHA
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Uniform Residential Loan Application (as it relates to FHA)
- Federal Statues & Regulations
- Types of FHA loans
- Calculations
Qualifying your borrower for FHA
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Borrower
- Credit Requirements
- MCAW
- Analyzing the Borrowers Credit
- Liabilities
- Effective Income
- Funds to Close
FHA Appraisal Requirements
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Selection of the Appraiser
- Site Requirements
- Neighborhood Hazards
- Valuation Process
- The Appraisal Report
- Manufactured Homes
- PUDs/Condos
We also offer 2 other training options:
1. Live Online Training
2. Online Training (can be taken at your leisure)
The Self Employed Borrower
Stated Income has been revised. Don't let bank statement intimidate you anymore, this course is taught by a mortgage underwriter so you'll know what the underwriter is looking for.
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Define and explain the diffrent business structures
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Explain the documentation needed for self-employed borrowers
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Review the schudules and explain how they relate to the mortgage process