DPA
What is the forgivable amount of the MLB Remarkable DPA
What is 2% of the purchase price
For FHA Manual UW, when reviewing credit, how far back are you looking when determining whether an extenuating circumstance is needed
What is 24 months
List 2 products that MLB Offers that is Exclusive To MLB, in the Wholesale Space
What is:
First Responder
Knock Bridge Loan
Elite Pricing
MLB Remarkable DPA
What is LIVES
What is the first out-reach method that has the highest connection rate
What is Phone Call
What product(s) can use the MLB Remarkable DPA
What program requires a Net Tangible Benefit to be met as a requirement (name just 1)
What is:
VA Cash out
VA IRRRL Streamline Refinance
FHA Streamline Refinance
What to do when a broker advises that the borrower may not sell their home in time to close on the purchase?
What is recommend the Knock Bridge loan (in states it qualifies in)
This MLB tool is the central hub where AEs track brokers, calls, notes, status, and production
After a phone call, this simple follow-up method keeps the AE front and center in the Loan Officers mind
What is a Recap Email
What state(s) can not use the MLB Remarkable DPA
What is WA
FHA - When a credit report has disputed accounts that total over $1000 this is an automatic Manul Downgrade. Name 1 solution can you offer to avoid the Manual Downgrade?
What is:
Have the disputes removed on all accounts or just enough accounts so the cumulative disputes are under $1000 and have a new In-File credit pulled
Have the borrower pay off all disputed accounts or just enough accounts so the cumulative disputes are under $1000 and have a new In-File credit pulled
What tool allows temporary access to our portal for a new broker
What is the MLB Fast Pass
What has been a recent additional to our customer service strategy, allowing another level of communication and out reach with the broker, mainly through emails at this time
What is Client Services
After making a call, sending drips, emailing or any other out-reach method with a Loan Officer, what should you do?
What is enter notes, tasks, calls, etc in the CRM
List 1 or more restrictions that apply to the MLB Remarkable DPA
What is NONE
If a broker has a Non-Warrantable Condo what do you do
What is bring Paul S into the call as only NQM product may be able to work with a Non Warrantable condo
What is provided to the Account Executive when a closing takes place in less than 15 days from initial UW AND what should the Account Executive do with what is provided?
What is a CTC Badge and Post on Social Media
This culture-driven principle means every employee—from AE to UW—acts as a representative of the MLB brand.
What is being an MLB Brand Ambassador
This type of account makes up over 70% of the Broker Accounts that we have
What is DORMANT
What state(s) offers a refund of the appraisal fee with the MLB Remarkable DPA
What is WI
For Mixed Use properties, name at least 2 question(s) you want to ask the broker to ensure the property will meet the GL before loan submission?
What is
"Is the commercial space 49% or less of total Sq Footage"
"Are there less than 4 units; 1 commercial and 3 residential"
"What are the neighborhood characteristics - is Mixed Use common for the area"
"Will loan qualify NOT using the rental income from the commercial space"
Which Elite pricing requires the borrower is NOT a First Time Homebuyer (FTHB)
What is FNMA Elite
Name 2 things a successful Account Executive should do every week, multiple times per week, in order to maximize on exposure for themselves and for MLB?
What is post on their own Social Media AS WELL AS like and share posts from others that are posting from MLB
List 2 of the 3 most commonly used reasons in the industry, that a broker may pull a loan or not send a loan to a particular lender
What is:
Pricing
Process/Service
Product/overlays