Schedule That
Show Me Your Assets
Name Your Product
Lia-BILL-ities
Where Do I Go?
100
As a sole proprietor this is where I show my income and losses
What is Schedule C?
100
Funds that are held by the borrower to cover closing costs and reserve funds
What is Assets?
100
A loan that is not backed by the government
What is Conventional?
100
These are not counted as liabilities
What is Auto, Health insurance or Medical bills?
100
Where do I go to pull transcripts?
What is CompliancEase
200
As an unincorporated business this is where I show my income and losses
What is Schedule E?
200
________ and _________ are the two types of assets
What is Liquid and Non-Liquid?
200
This loan requires a 3.5% down payment
What is FHA?
200
True or False VA loans do not consider childcare a liability
What is False?
200
This is where I go to underwrite a Freddie Mac loan
What is LP (Loan Prospector)
300
As an S Corp this is where I show my income and loss
What is Schedule E?
300
The amount of money needed from the borrower to cover closing costs, prepaids, and the down payment
What is funds to close?
300
Requires PMI when LTV exceeds 80%
What is Conventional?
300
This is your assets minus liabilities
What is Net Worth?
300
I check this first before calling the employer for my VOE
What is The Work Number?
400
This is where a farmer shows their income and loss
What is Schedule F?
400
The amount of money needed to cover the full PITI payment on subject property
What is Reserves?
400
Can be 100% LTV
What is VA?
400
Name of creditor, account number, monthly payment and __________. Must be listed on the URLA
What is remaining balance?
400
This is where I go to verify properties owned by the borrower
What is DataVerify?
500
As a ________ my income and loss shows up on Schedule C
What is LLC or sole proprietor?
500
Out of checking, savings, IRA account, and money market, _______ is not a liquid asset
What is IRA account?
500
Regulated by HUD
What is FHA?
500
This could show up on your WVOE as a payroll deduction
What is Alimony or Child Support?
500
This is where I go to make sure the borrower has never foreclosed on a government loan
What is CAIVRS?
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