The subject property is impacted by a federally declared disaster, and the original appraisal confirmed its condition before the disaster. What steps must the underwriter take to comply with....

The subject property is impacted by a federally declared disaster, and the original appraisal confirmed its condition before the disaster. What steps must the underwriter take to comply with Fannie Mae’s guidelines before closing?

The borrower who earns a base salary plus commission applies for a Freddie Mac loan. If there is a decline in commission in the most recent year, how should the underwriter verify and calculate....

The borrower who earns a base salary plus commission applies for a Freddie Mac loan. If there is a decline in commission in the most recent year, how should the underwriter verify and calculate qualifying income?

The borrower reports $85K income for 2023, and $60K for 2024 but with $12K one-time equipment deduction. March 2024 YTD profit and loss shows $15K net income. How should income be calculated....

The borrower reports $85K income for 2023, and $60K for 2024 but with $12K one-time equipment deduction. March 2024 YTD profit and loss shows $15K net income. How should income be calculated under FHA guidelines?

The underwriter reviewing an FHA loan with a 3.5% downpayment, finds a $10,000 deposit exceeding the borrower’s payroll. How should this large deposit be verified for loan eligibility?

The underwriter reviewing an FHA loan with a 3.5% downpayment, finds a $10,000 deposit exceeding the borrower’s payroll. How should this large deposit be verified for loan eligibility?

The underwriter reviewing an FHA loan for a 1975 home finds peeling paint in the appraisal. How should this be addressed for loan eligibility under FHA’s lead-based paint rules for pre-1978 homes?

The underwriter reviewing an FHA loan for a 1975 home finds peeling paint in the appraisal. How should this be addressed for loan eligibility under FHA’s lead-based paint rules for pre-1978 homes?

The borrower and spouse work overseas on a two-year contract. How can an FHA loan be approved and what documents are needed?

The borrower and spouse work overseas on a two-year contract. How can an FHA loan be approved and what documents are needed?

The borrower for an FHA loan believed his student loan was fully paid, yet his credit report still lists the debt. How can this discrepancy be resolved?

The borrower for an FHA loan believed his student loan was fully paid, yet his credit report still lists the debt. How can this discrepancy be resolved?

Although the borrower has substantial savings, they fall short of covering the full property cost. If the borrower relies solely on seasonal employment, can a conventional loan still be approved....

Although the borrower has substantial savings, they fall short of covering the full property cost. If the borrower relies solely on seasonal employment, can a conventional loan still be approved, and what documentation would be required?

If the borrower is acquiring agricultural land with plans to eventually build both a primary residence and a rental property, is this eligible for a USDA loan?

If the borrower is acquiring agricultural land with plans to eventually build both a primary residence and a rental property, is this eligible for a USDA loan?

If the borrower is buying a property from a relative, what documentation is required for FHA loan underwriting?

If the borrower is buying a property from a relative, what documentation is required for FHA loan underwriting?

What is an “ADU” and how is it different from a second unit?

What is an “ADU” and how is it different from a second unit?

The borrower’s purchase agreement has a rent-to-own clause that shows a portion of every month’s rent will be given as a credit toward their down payment. How do we determine how much the....

The borrower’s purchase agreement has a rent-to-own clause that shows a portion of every month’s rent will be given as a credit toward their down payment. How do we determine how much the credit can be?

On an investment purchase, the borrower’s tax returns show that they have six rental properties plus another four that are co-owned in an LLC. Does that exceed Fannie Mae guidelines for maximum....

On an investment purchase, the borrower’s tax returns show that they have six rental properties plus another four that are co-owned in an LLC. Does that exceed Fannie Mae guidelines for maximum number of properties?

On a cash-out refinance, the Closing agent was instructed to pay off an installment loan through closing but it was not reflected as being paid off on the final Closing Disclosure. How can that....

On a cash-out refinance, the Closing agent was instructed to pay off an installment loan through closing but it was not reflected as being paid off on the final Closing Disclosure. How can that be resolved?

Our borrower just accepted a position as the CFO of a friend’s new start-up company. They are paid on salary, but how would we know if that new business will succeed and the income....

Our borrower just accepted a position as the CFO of a friend’s new start-up company. They are paid on salary, but how would we know if that new business will succeed and the income have a likely continuance?

The borrower is requesting a cash out refinance to buy out their ex-spouse’s equity in the property. However, they bought the home just four months ago and both are on title. Can this be done?

The borrower is requesting a cash out refinance to buy out their ex-spouse’s equity in the property. However, they bought the home just four months ago and both are on title. Can this be done?

A married couple is purchasing a new primary residence using conventional financing. One spouse will stay in the current home and at their current job until it’s sold, while the other moves to the....

A married couple is purchasing a new primary residence using conventional financing. One spouse will stay in the current home and at their current job until it’s sold, while the other moves to the new home 1000 miles away. Should this be considered a second home?

The borrower is using note income to qualify. A copy of the original document shows it’s “All-Inclusive”. Can that income be used?

The borrower is using note income to qualify. A copy of the original document shows it’s “All-Inclusive”. Can that income be used?

Two unrelated parties are buying a second home with conventional financing and they intend to take title as “tenants in common”. Is there any special documentation required for that?

Two unrelated parties are buying a second home with conventional financing and they intend to take title as “tenants in common”. Is there any special documentation required for that?

The borrower is selling their existing home subject to the buyer’s assumption of the existing mortgage. Should the payment be included in the ratio?

The borrower is selling their existing home subject to the buyer’s assumption of the existing mortgage. Should the payment be included in the ratio?