Real Estate 101
NCF / Debt Service
What is Debt Service Coverage Ratio or DSCR?
The Guide includes specific requirements for underwritten real estate taxes in this state, once known as the "Grizzly Bear State."
What is California?
The index rate plus investor spread is known to MBS investors as this.
What is the Pass Through Rate or Coupon?
This former California Governor, actor, and famous bodybuilder has been investing in real estate since the 70s, and still owns several commercial properties in Santa Monica.
Who is Arnold Schwarzenegger?
SRO
What is Single Room Occupancy?
Total Operating Expenses / Effective Gross Income
What is Operating Expense Ratio or OER?
This state, where the first frozen margarita machine was invented, had the most Pre Review submissions in 2022.
What is Texas?
This product type carries a credit fees adder of 100 basis points.
What is a Supplemental?
A long time talk show host and media mogul, she owns properties in CA, WA, HI, and CO, with her primary estate encompassing over 70 acres.
Who is Oprah Winfrey?
STR
What is Short Term Rental?
Interest Rate > Cap Rate
What is Negative Leverage?
Of the states with counties classified as "Strong" Markets per the 4660, this state, where the first Starbucks was founded, has the fewest counties with 3.
What is Washington?
Reductions in the standard Yield Maintenance period will incur adders to what components of the spread?
Investor Spread and Guaranty Fee
Not just Harry Potter's sidekick! This actor has achieved significant financial success from strategic home purchases in England since starring in the films.
Who is Rupert Grint?
ADCA
What is Automated Digital Credit Assessment?
NCF / Loan Amount
What is Debt Yield?
This state, recently added to NE region and where the NFL was originally founded, is on Pre Review at Tier 2 with the exception of 2 of the state's 3 most populous cities.
What is Ohio?
This occurs when the closing date and MBS issuance date (settlement date) are in the same month.
What is Same Month Pooling or Same Month as Pooled?
Who is Jennifer Anniston?
SDW
What is Sponsor Dedicated Workforce?
NRI + Other Income
What is Effective Gross Income or EGI?
These 3 states are the only states that are entirely on Pre-Review and are not eligible for delegation at any Tier.
What is Louisiana, North Dakota, and Wyoming?
This is the Premium Limit for a transaction over $5 MM
What is 102.00%
The former running back for the Dallas Cowboys has been investing in real estate since the peak of his career in the 1990s. He is now CEO of a Baltimore based commercial developer.
Who is Emmitt Smith?
ROAR
What is Reduced Occupancy Affordable Rehabilitation?