Assets
These funds can be used towards closing costs, down payment and reserves provided they are converted to cash prior to closing.
What are credit card reward points.
If state law allows for similar treatment, this debt may be treated the same was as alimony and deducted from the monthly income.
What is separate maintenance?
This DU offering cannot be more than four months old on the date of the note and mortgage. Also, an appraisal has not been obtained for the transaction.
What is an appraisal waiver?
What Federal banking holiday is not observed by First State Bank Mortgage?
What is Columbus Day?
Jim Yarrington
Who is the second oldest person in the mortgage division?
These assets require documentation to prove they have been exchanged into US Dollars and are held in a US financial institution prior to closing.
What are foreign assets?
These payments, if voluntary, are not required to be taken into consideration when calculating monthly obligations.
What is alimoney and child support?
$1,149,825
What is the conforming high-cost area loan limit?
Veteran's Day, Juneteenth, Christmas Day, New Year's Day, Independence Day
What Federal holidays are always celebrated on the exact same date?
Will Foster did this.
Who did the most MHDC and VA loans in 2023?
This asset is defined as a single transaction that exceeds 50% of the total monthly qualifying income.
What is a large deposit?
These types of income are assessed by using an averaging method.
What is variable income?
CPM
What is Condo Project Manager?
These months do not have a Federal holiday in 2024?
What are March, April and August?
Maggie Rivera
Who did the most FHLB grant loans in 2023?
This future savings plan is an eligible source of funds provided the borrower is the owner of the account and the account is revocable. Liquidation may be required based where the money is invested and based on the effective net balance.
What is a 529 College Savings Plan?
The lender may count the full amount of this income as non-taxable without requiring supporting documentation and may gross it up.
What is child support?
2% Max
What is the maximum interested party contribution for investment properties?
What months have two Federal Holidays?
January and November
Steve Trautman, Jenny Zillner and Terry O'Neill
Name the LO's that have left and come back to stay.
These may be excluded from the application if the borrower can qualify without them.
What are liquid assets?
To be used as qualifying income, the borrower must have vested and it must be distributed without restrictions.
What is Restricted Stock Employment Income?
120% is required for loan approval
What is the VA residual income guideline for a one person household with a DTI over 41%
Over $7billion dollars is spent annually on this "holiday"
What is Halloween?
This person calls all the time with the inside scoop
Steve Ecker