The Underwriting Process

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SKU: MP-UW Category:

Outline

Loan
to Value Ratio (LTV)

Qualifying
a Borrower

  1. Credit
  2. Ability to repay
  3. Property Eligibility
  4. Assess Risks

Analyzing
Borrower and Property

  1. Capacity
  2. Credit
  3. Collateral

Analyzing
assets

  1. Down payment
  2. Reserves
  3. Third Party Verification
  4. Gifts

Automated
Underwriting Systems

  1. Desktop Underwriter DU – Fannie Mae
  2. Loan Product Advisor LP – Freddie Mac

Calculating
Debt to Income Ratios

  1. Income Components
  2. Debt Components

Employment
and Income Requirements

  1. Computing Monthly Income
  2. Credit
    Scores and Credit Scoring

Learning Objectives       

  1.       Calculating
    LTV
  2.       Identify
    criteria used to evaluate ability to repay
  3.       Discuss
    Automated Underwriting Systems
  4.       Complete
    simple income calculations
  5.       Calculate
    debt-to-income ratios.
  6.       Calculate
    maximum mortgage payments
  7.       Calculate
    maximum loan amount

Teaching Methods:

Power Points, Video PowerPoint Presentation and Quiz