FNMA
FHLMC
VA
FHA
Bonus
100
Fannie Mae You pull credit and your borrower has a student loan with a balance of $124K and the payment listed is $236 per month. Look here to see if the monthly payment listed can be used.
What is B3-6-05?
100
Freddie Mac I am reviewing my borrower's credit and there are some late payments. To see the chart of Significant Derogatory Event Recovery and the Time Periods for Reestablishment of Credit with Extenuating Circumstances are found here.
What is 5202.5?
100
VA: You are getting ready to submit a VA loan to underwriting, however your loan is not strong and you are concerned that it may be suspended/denied. Look here to see a list of Compensating Factors to mention in the milestone comments to the underwriter.
What is Ch. 4, 10-d?
100
FHA: Resource which is the Cliff notes of the full guidelines
What is MRI book?
100
Bonus: Name 1 way to search guidelines in AllRegs
What is topic outline, search, table of contents or alphabetic index?
200
Brendan's favorite pizza topping
What is..... see Brendan for answer
200
Due diligence, discovery, demonstration, decision and dedication.
What are the 5 fundamentals of customer focused selling?
200
Finish this sentence. The story of home starts with ______.
What is you?
200
Who won the super bowl this year?
What is New England Patriots?
200
Bonus: What is the first thing that you will click on when you get into AllRegs?
What is Agency Guidelines?
300
Fannie Mae Your borrower does not have money for closing and does not have the ability to save so they will need to get a gift. Look here to find a list of acceptable Gift Donors.
What is B3-4.3-04?
300
Freddie Mac: Your borrower is self-employed Borrower and has a car loan that is paid by the business. You can look here to see the requirements in order to exclude it from DTI.
What is 5401.2?
300
VA: Your borrower is able to do a VA loan and you run it through DU and get an accept. You can look here to see what DTI is considered high and additional scrutiny is required.
What is Ch. 4, 10-b?
300
FHA: Alternate source for PDF version of guidelines
What is 4000.1
300
Bonus: What 4 agencies can be searched via AllRegs?
What is Fannie, Freddie, FHA and VA?
400
Fannie Mae Your borrower financed a Porsche in his name only but his brother makes the payments. To see if you can exclude the payment, look here.
What is B3-6-05?
400
Freddie Mac Your borrower's DTI is outside the guidelines so you ask if a non-occupying co-borrower is an option. You add them to the loan but are not sure if there is a required DTI for the borrower. Please look here to find the answer.
What is 5301.1?
400
VA: You are reviewing the declaration questions and see that your borrower marked "yes" to having a bankruptcy in the last 7 years. They tell you that it was a Ch. 7 but it was a little over 2 years ago. You can look here to see if they are within the guidelines.
What is Ch. 4, 7-e?
400
FHA gifts
What is 4000.1, 2A, 4d
400
Best college football program in the country. free hint - OH_ _ ST_TE
What is THE Ohio State Buckeyes?
500
Fannie Mae Your borrower's DTI is 62%, but has assets available to paid off debt prior to or at closing. The guidelines are found here.
What is B3-6-07?
500
Freddie Mac My borrower has money for the down payment but does not have enough to cover closing costs and the seller can only contribute 3%. They can get a loan from their mother. The guidelines that have to be met are found here.
What is 5501.4?
500
VA: Your borrower does not want his wife on the loan and then goes into telling you that he is planning on getting a divorce so he does not want her to know about the purchase. Look here to see the requirements for signing docs for the non-borrowing spouse.
What is CIRC. 26-16-01?
500
Do the right thing, Will to win and one team.
What is our core values at CalAtlantic Homes?
500
Bonus: When looking for a FNMA guideline via the search function, what is the best way to find what you need?
What is type in different forms of the word/guideline that you need, keeping the use of "match exact phrase" to a minimum because it will limit your results.
M
e
n
u