Non QM Fun
DSCR is the acronym for what type of loan product.
What is Debt Service Coverage Ratio
This is the max front-end ratio on a FHA loan with automated approval
What is 46.9%
This document is the first item moved to the right upon submission to set-up.
What is the Submission Checklist.
FICO is the credit scoring acronym for what.
What is Fair Isaac Corporation
TILA
What is Truth in Lending Act
Only needing residual income to qualify is for which product.
What is Asset Depletion
This is the maximum seller contribution percentage on VA.
What is there is none.
This screen shows when your VA appraisal is ordered.
What is Key Dates
If residual income is required on a VA loan, this percentage of residual must be met.
What is 20%
RESPA
What is Real Estate Settlement Procedures Act
You can go up to 55% DTI on this Non-QM product.
What is Advantage Flex
Taking 5% of the balance and dividing by 12 is how you calculate these two things.
What is VA collection and student loans.
This is where you find your buydown subsidy fee calculation.
What is it's already done in points and fees.
You are pricing a NOO cashout loan with a 671 credit score. The highest rate has a cost of 1.900. If you charge 2 discount points, what is the amount that is considered bona-fide.
What is zero.
ECOA
What is Equal Credit Opportunity Act
This is the lowest expense ratio on our Bank Statement product
What is 15%
This schedule on the 1040 shows if a borrower owns any S-Corporations or Partnerships.
What is Schedule E?
You may find the amortization table located in mello by clicking this icon.
What is the Calculator
Your comp is 100 bps and your cap is $7,000. You price a $1,000,000 loan. You will receive a positive LLPA of this amount in bps.
What is 30?
UDAAP
What is Unfair, Deceptive or Abusive Acts or Practices
This is the max seller contribution on an Advantage Flex DSCR.
What is 6%
This percentage of vested balance in your retirement account that FNMA and FHLMC allow is this amount.
What is 100%
This option on the appraisal waiver disclosure allows revisions to the appraisal report to be made up to the day of closing.
What is Option 1
This government agency guarantees MBS backed by FHA and VA loans with its "full faith and credit."
What is Ginnie Mae (GNMA)?
FCRA
What is Fair Credit Reporting Act