Category: FHA

Do You Have a Credit Issue that Is Being Disputed?  If you have a credit account in dispute, home loan guidelines will allow some flexibility, so do not let that hold you back from finding out more!  I’m here to help you answer your credit questions.  Have a Question?  Let’s Talk!

Do You Have a Credit Issue that Is Being Disputed?  If you have a credit account in dispute, home loan guidelines will allow some flexibility, so do not let that hold you back from finding out more!  I’m here to help you answer your credit questions.  Have a Question?  Let’s Talk!

Related Article Title: Disputed Account with a Zero Balance and a Late Payment Question: My client has a store credit card with a zero balance and the last late was due to a dispute within the last 24 months.  Do I need to get the dispute removed or can this be ignored? Mortgage Currentcy – […]

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Attention Union Workers!  We know your income can seem complex to lenders, and we want you to know that we get it. I have worked extensively with Union workers; understand how you are paid and how to document it.  PM me with any questions!

Attention Union Workers!  We know your income can seem complex to lenders, and we want you to know that we get it. I have worked extensively with Union workers; understand how you are paid and how to document it.  PM me with any questions!

Related Article Title: Union Income Calculation & Documentation – Multiply Agency Answers Question: I’ve been in this industry for 20+ years but seem to always get challenged when it comes to union employment verification and acceptable documentation.  Where is there clear guidance on verifying this income short of just asking for 2 years of tax […]

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Requiring Tax Returns on a Part-Time Real Estate Agent NOT Using the Income

Question: My client has a full-time job and does real estate on the side.  We are not counting any income from real estate, but my underwriter is insisting on the tax returns for this income.  Does FHA require the underwriter to evaluate the self-employed income if we are not using it to qualify the borrower? […]

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Cashback from a Gift of Equity

Question: Is cashback permitted on a gift of equity? Answer: Fannie Mae & Freddie Mac Says: No. Gift of equity would be appropriately adjusted to meet the product/program maximum LTV requirements for the transaction. It could not come back to the borrower as a source of funds in any way. FHA Says: Unfortunately, FHA will […]

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