This screen contains all of the information reflected on the 1003
What is Borrower Info Tab
100
This system is used to view all of the documentation required for delivery to Freddie Mac
What is DocV or Document Velocity
100
This condition ensures the accuracy of subject property address
What is USPS look up
100
Freddie Mac Requires an LOX for all inquiries dated within "this" many days
What is 120
100
The number of critical errors which results in a reduction of monthly incentive by 50%
What is One
200
Used to order various reports, such as LP, Fraud Guard, and Credit Reorts
What is Interface Explorer
200
Usually completed by the loan processor, this document is required with every underwriting submission and verifies that no new debt/debt increases have been established by the Borrower
What is HOGAN
200
This disclosure document ensures the Borrower's intent to live in the subject property
What is FBI Occupancy Disclosure
200
Freddie Mac allows an underwriter to consider up to "this" percentage of a Borrower's retirement account value towards any reserve requirement that may exist
What is 70%
200
You should check for the existence of "this" type of loan prior to underwriting a submission to avoid any unnecessary work
What is simultaneous second (or COMBO loan or HELOC)
300
This screen, within the interface explorer tab, is used to determine if the Borrower's credit card was actually charged by originations
What is the credit card section within interface explorer
300
The underwriter should ensure that these three documents match after every successful review
What is LP, the 1008 and the 1003
300
Conditioning for this document allows USB to confirm the Borrower's social security number in instances where a discrepancy exists
What is Form SSA-89
300
Although commonly accepted by other institutions, USB does not permit supporting credit documentation to be submitted using "this" format
What is JPEG or Photograph
300
In the absence of a monthly payment for revolving or open accounts, underwriters should use "this" percentage of the account balance when calculating the Borrower's DTI
What is 5%
400
When validating debts from the credit report, the underwriter must be mark "these" three fields in order to ensure valid LP findings
What is "Include In Payment", "Include In Balance", and "Debt Verified"
400
This prefix designates loans from the USB retail channel
What is 22
400
Underwriters should condition for this form when allowances (such as auto) are reflected on the Borrower's paystub
What is 2106
400
An LOX for an increase in a Borrower's income should be requested when that income exceeds "this" percentage year over year
What is 20% for salaried or 25% for self-employed
400
Requires a score of over 400
What is FraudGuard
500
This code should be added to the "Delivery Data 1" screen, under FHLMC Special Characteristics, in NetO to ensure compliance with Freddie Mac
What is Code 921
500
The term that refers to the preferred USB methodology for labeling documentation in DocV
What is Taxonomy
500
A condition for this form should be added for all loans in which the subject property is classified as investment
What is FHLMC form 998 or FNMA form 216
500
Each Borrower individually and all Borrowers collectively must not own and/or be obligated on more than six 1- to 4-unit financed properties, including the subject property for these two types of subject transactions
What is second homes and investment properties
500
This 1120 schedule indicates the percentage ownership for all stockholders owning 20% or more of the business