Tag: Universal Topics

If you have rental property or are considering moving and renting out your current property, it is important to understand how lenders view rental income. Before you start looking for a new home, investment property or refinance, contact me for the answers.

Related Article Title: Mortgage Currentcy™ Releases 3 NEW Reference Charts – NEW Rental Income Requirements – All Agencies, NEW – Business Debt in Borrower’s Name – All Agencies, NEW FHA Manual Underwriting Guidelines PLUS Some Need-to-Know Info and Updates! Written By: Tammy Butler, Publisher, Mortgage Currentcy™ How and Why We Add Charts and Checklists Mortgage […]

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More and more people are becoming self-employed. As a person builds their company, they may need to take on debt and personally guarantee that debt. We have the information you need as to how this may or may not affect a new home purchase or refinance, so contact us first!

Related Article Title: Mortgage Currentcy™ Releases 3 NEW Reference Charts – NEW Rental Income Requirements – All Agencies, NEW – Business Debt in Borrower’s Name – All Agencies, NEW FHA Manual Underwriting Guidelines PLUS Some Need-to-Know Info and Updates! Written By: Tammy Butler, Publisher, Mortgage Currentcy™ How and Why We Add Charts and Checklists Mortgage […]

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Did you know that a Non-QM loan is not a Hard Money loan?

Related Article Title: Universal – Loan Quality Types:  With the expansion of loan products, what are the differences between Non-QM and Sub-Prime loans? Answer: There is a lot of discussion on Non-QM business as lenders have compressed margins and they are looking for loans that allow them to deviate slightly from secondary marketing constrictions and […]

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When a client has co-signed for another person’s loan this may or may not be counted as debt when getting a mortgage. We can easily answer that question for you, so don’t wonder, just give me a call.

Related Article Title: Universal- NEW Chart- Debts Paid by Others Chart – All Agencies Written By: Lloyd Rutherford, Staff Writer We get a lot of questions regarding Debts Paid by Others through our Ask the Experts feature.  To assist our subscribers, our experts have created an ALL agencies chart for this subject. Interpretive Comments: Variation […]

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Just wanted you to know that the government settled a lawsuit with credit bureaus regarding reporting errors on tax liens and judgments. There are potential errors in roughly 96% of consumer reports related to public record information (civil judgments) and roughly 50% of tax lien data not meeting these new standards. Credit bureaus must comply by July, 2017.

Rule Synopsis: There was a 31-state lawsuit against the credit reporting agencies. A settlement was reached in March of 2015 with staged roll-outs of certain changes to credit reporting requirements. The agreement is 41 pages in length and applies to all three credit reporting agencies on a national level, not for just NY or the […]

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