This session reviews commonly used IRS forms and how to use them for qualifying income under the Ability to Repay Rules. Become a income expert. Master this analytical skill to outperform your competition. Understand the basics of what underwriters are looking for. Learn to qualify more borrowers Review of the Federal 1040 & Schedules, 1065, 1120, 1120″S”, K-1 Capture borrower’s attention using professional skills Certificate requires final assessment grade of 80% or higher.
Course Outline TILA Definitions Part a TILA Definitions Part B TILA Review Advertising Requirements Permissible Finance Charges APR Tolerances Disclosed Finance Charges Learning Objectives To understand what is beneath all laws and regulations on lending To understand what is loan “consummation” To understand what TILA applies to To understand what loans covered under TILA To understand the definition of …
Outline Federal Housing Administration (FHA) Insured Loans Mutual Mortgage Insurance Fund FHA Underwriting Standards Property Guidelines for FHA Loans FHA Loan Regulations Mortgage Insurance Premium Seller Contribution Limits Prepayment Penalties FHA Loan Programs Learning Objectives Identify standards for FHA-insured loans. Define upfront mortgage insurance premiums. Discuss loan options available through the FHA. Identify standards for VA-guaranteed loans. Define eligibility and entitlement for veterans. …