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 way as alimony and deducted from the monthly income.
What is separate maintenance
CPM
What is Condo Project Manager?
This agency sets the conforming loan limits each year
Who is the Federal Housing Finance Agency
The youngest person in the mortgage division
Gabby Harlow
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, Crypto etc.
These payments, if voluntary, are not required to be taken into consideration when calculating monthly obligations.
what is alimony and child support
120% is required for loan approval
What is the VA residual income guideline when a DTI is over 41%
What type of mortgage is a 43% DTI, points and fees of 3% or less, not overpriced or have risky features
What is a Qualified Mortgage
This person closed the most Condos in 2023.
Who is Chris Stecher
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
$1,149,825
What is the conforming high-cost area loan limit
Without a consumer's intent to proceed, this document expires within 10 business days of issuance
What is a Loan Estimate
This person closed the most Home$tart loans
True or False
A Trust is an acceptable gift donor
True.
SEL.2023-08
To be used as qualifying income, the borrower must have vested and it must be distributed without restrictions.
What is Restricted Stock Employment income?
$10,000.00
What is the HomeStart Grant
This tool allows the public to track mortgage originators across state lines
What is the NMLS
This person closed the most HELOCs
Rick Whisman
Two months reserves is required for what type of transaction
What is a Second Home
In our area, borrowers with this income or less receive LLPA caps
What is $100,800.00
2% Max
What is the maximum interested party contribution for investment properties
This institution's aim is to make sure you are treated fairly by banks, lenders and other financial insitutuions
This person closed the most itty bitty teeny weeny first lien loan amount
Shad Lager