Cures
This is the most common cure throughout the Towne Bank family of mortgage companies.
What is transfer tax?
This percentage of ownership in a company means the borrower will need to provide tax returns.
What is 25%?
This loan product requires a minimum of 3.5% down payment.
What is FHA?
What is 3 days from the date of the change?
Overtime income can be used for qualifying income in these circumstances.
What is: A minimum history of two years of employment income is recommended. However, income that has been received for a shorter period of time may be considered as acceptable income, as long as the borrower’s employment profile demonstrates that there are positive factors to reasonably offset the shorter income history.
Borrowers relying on overtime or bonus income for qualifying purposes must have a history of no less than 12 months to be considered stable.
What are: Agents, past customers, attorneys, investment advisors, etc.
Bank statement loans require this many bank statements.
What is 12 or 24?
Who is Keith?
A 25 unit condo project is ineligible for FNMA financing if one entity owns this percentage or more of the units.
What is 20%?
The best methods for taking a loan application are:
What is Face 2 Face, Mobile App, over the phone?
DSCR stands for this.
What is debt service coverage ratio?
Teri requires the HSM closers to notify her before closing a loan with cures in excess of this amount.
What is $25?
A veteran and his girlfriend can buy a home together using a VA loan. True or false?
What is true... as long as they put down at least 12.5%.
This is the cost of a post card through our marketing dept.
What is 60 cents. (can be split with agent)
QM means this.
What is Qualified Mortgage?
This is what happens to loan officers who consistently have excessive cures.
When used for reserves, this percentage of the borrowers stocks and bonds can be used.
What is 100%?
When used for reserves, 100% of the value of the assets may be considered, and liquidation is not required
The best ways to stay in contact with your buyers are these.
What are Client for Life, Total Expert drip campaigns, hand written notes, personal emails and phone calls, etc.
This type of appraisal is "coming soon" to HSM and will be accepted on a case-by-case basis.
What is hybrid?