Mortgage Training: Tips from Underwriting Sense..into the mind of an Underwriter

Mortgage Training: Tips from the course: Underwriting Sense....into the mind of an Underwriter

WHY do you NEED the tax bill and hazard insurance dec page? Here's a question we get often!

I have had to go to bat with Brokers, Processors and Account Executives regarding this condition!  We don't ask for these documents to give you a hard time or to make you go back to your borrower!  There is actually a legitimate reason we ask for it.  When a schedule of Real Estate Owned is submitted with "free & clear" properties listed we have to have accurate verified taxes and insurance to calculate the accurate debt ratio.  Just as the credit report or mortgage statement verifies the mortgage we need to verify the taxes and hazard insurance.  I can't begin to tell you how many properties are listed as having $150 for taxes and insurance and when the tax bill and dec page comes back it like $400-$500 a month!  Save time provide tax bills and dec pages for free and clear properties.

Alpha Mortgage Training offers instructor led on-line courses on a monthly basis. Live training available in some states.  If you are looking to learn technique and theory than contact Alpha Mortgage Training.  Our Courses were written by a underwriter with conventional and government experience. Our courses will help you increase your closing ratio.

Upcoming Training Events:

FHA Jumpstart: Here's a FHA Mortgage Training Course that fits in everyone's budget! Jump into FHA with the information you need to get your loan approved.  This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved!  These sessions fill up quickly.  Reserve your spot now.

Self-Employed Borrower: How many times have you received your conditions back from the underwriter asking for schedules you've never even heard off!!!  This course teaches you how to calculate income from your borrower tax returns, identify when your missing a schedule and complete a worksheet so the underwriter knows how you arrived at your income.