Hardship Requests
Hardship requests are sent to this person.
Who is Steven Andrews?
The only mortgage product that Founders offers that is covered by the MLA (Military Lending Act).
What is land only?
These products allow us to finance up to 95% loan to value while exceeding 33% debt to income ratio.
What is College Choice, Hospital Choice, and First Responder?
The number of modifications that are allowed during the entire life of a loan.
What is 2?
In 1945 scientists in this state witnessed the detonation of the world’s first atomic bomb.
What is New Mexico?
This is required when submitting a hardship request.
What is a hardship letter?
Requires accuracy and fairness of credit reporting.
What is the Fair Credit Reporting Act (FCRA)?
Aside from the first-time home buyer and military mortgage, we can also finance 100% when a member is purchasing one of these.
What is a Founders foreclosure?
The processing fee that Founders charges.
What is $495.00?
This famous PBS bird has a star on Hollywood’s Walk of Fame.
Who is Big Bird?
Alternate payments typically consist of the member paying this.
What is 30 days of interest plus escrow?
These must be posted in the Credit Union lobby and in all other areas in which real estate loans are made.
What is the Fair Housing Signage?
This product is limited to a max term of 12 years.
What is a used singlewide mobile home?
The person you contact when you have forgotten your Encompass password.
Who is Robbye Helms?
She released “Genie in a Bottle” in 1999.
Who is Christina Aguilera?
The collection software that is reviewed to see if the member has any open promises to pay.
What is Akuvo?
This prohibits discrimination in all aspects of a credit transaction.
What is the Equal Credit Opportunity Act (ECOA) also known as Regulation B?
The 2 products that do not allow the member NOT to pay the discount point.
What is land only and construction loans?
The minimum credit score that is allowed on the TruHomes 30-fixed investor product.
What is 620?
"Does Barry Manilow know that you raid his wardrobe?" is a classic line from this 1985 movie.
What is The Breakfast Club?
A member will receive this when their mortgage is 60 days past due.
What is a pre-foreclosure intervention letter?
Requires the registration of employees of federal credit unions who are engaged in the business of originating residential mortgage loans.
What is the SAFE Act?
The max term allowed for a doublewide mobile home that is not on a permanent brick foundation.
What is 20 years?
The max percentage of the county area median income that is allowed for FHLB of Atlanta's Workforce Housing Plus+ down payment assistance program.
What is 120%?
In Latin and Medieval Latin, the roots behind this word literally translates to "dead pledge."
What is mortgage?