Percentage used to "gross up" non-taxable income
What is 15%?
Where documents live in Byte
What is Stored Docs?
Document that provides proof that a veteran is eligible for the home loan benefit
What is a Certificate of Eligibility?
Max CLTV for our Texas HELOAN program
What is 80%?
A loan that does not meet the strict criteria set by the Consumer Financial Protection Bureau for a Qualified Mortgage.
What is a Non-QM loan?
Income that is not subject to federal taxes.
What is Child Support or some portions of Social Security income?
Name of report that we run inside of Byte at least twice throughout our process before a loan may be final approved
What is Data Verify?
The amount available for a Veteran to use on a loan
What is Entitlement?
Max mortgage lates allowed in the past 12 months
What is 0 x 30?
Name of the vendor that we should be using to obtain VOEs
What is TrueWork?
Required process for all FHA Appraisals after our underwriter has approved the appraisal
What is Appraisal Logging?
Who we obtain flood certs from
What is Partners Flood?
$36,000
What is Basic Entitlement?
Type of loss that must be deducted from the total qualifying income
What is a business loss?
Name of our internal intranet
What is AFC Pulse?
System where FHA Case Number is obtained
What is FHA Connection?
Name of screen where we enter additional items that need to be included in a closing package for a borrower to sign
What is the Closer Notary Instructions screen?
Some Veterans may be exempt from paying this fee.
What is the Funding Fee?
Title documentation required for loan amounts greater than $250k.
What is a full title policy?
Type of request when a check is needed to pay for Condo Certs
What is an Accounting Request?
Maximum LTV when a loan includes a non-occupying co-borrower who is not a family member of the borrower
What is 75%?
This screen and section is where we can request for HOI and Payoffs to be ordered
What is the Processing Log screen and the PMA Review section?
Form that is required for Discharged Veterans (regular military)
What is the DD214- Certificate of Release or Discharge from Active Duty?
Type of account that may not be used to satisfy tradeline requirements.
What is an Authorized User Account?
July closed loans goal
What is 425?