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UNDERWRITING Reference Articles:

FHA Manual Underwriting
Some lenders will not touch an FHA loan that can not be approved through an automated underwriting system, and some have started to require minimum credit score requirements. However, there are quite

http://www.brokeroutpost.com/reference/210164.htm (Updated: 10/12/2008)

High debt to income ratio mortgage loans
Many people have high debt to income ratios and can still qualify for a mortgage loan. There are many options available out there for people who have a high debt to income ratio, also referred to as D

http://www.brokeroutpost.com/reference/52950.htm (Updated: 07/15/2008)
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Tougher Mortgage Lending Guidelines
Why have mortgage lenders tightened their guidelines so much? Can I still buy a home with zero or no money down? Will I be able to refinance with the tougher mortgage lending guidelines? I am not able

http://www.brokeroutpost.com/reference/199218.htm (Updated: 06/23/2008)
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Portfolio Loans
Portfolio loans are mortgages that are held as an investment by the lender. Usually they hold on to the loan because it doesn't fit the underwriting guidelines for investors on the secondary market.

http://www.brokeroutpost.com/reference/28593.htm (Updated: 01/13/2008)
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Automated Underwriting Systems
Many lenders have converted their underwriting systems to an online automated program where Brokers can upload applications over the internet and receive approvals and conditions often within minutes.

http://www.brokeroutpost.com/reference/62816.htm (Updated: 11/25/2007)

Million Mortgage Loan
$1 Million Mortgage Loan to $40 Million Mortgage Loan programs are referred to in the lending industry by the terms "super jumbo mortgage" or even "mega jumbo loan" Jumbo mortgages are loans which

http://www.brokeroutpost.com/reference/128780.htm (Updated: 10/09/2007)
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Fannie Mae Explained
Fannie Mae and Freddie Mac reduce the costs of borrowers, who meet the underwriting requirements of the agencies, and who need loans no larger than the largest mortgage the agencies are allowed by law

http://www.brokeroutpost.com/reference/20194.htm (Updated: 09/05/2007)
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Credit Score Under 620
If you are looking to purchase a home or considering refinancing your home and have a credit score under 620, there are still many options available to you. Despite the subprime meltdown, there are s

http://www.brokeroutpost.com/reference/157422.htm (Updated: 08/31/2007)
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Credit Fico Score For FHA Loan
When FHA is underwriting a mortgage loan they do not look directly at the credit fico score of the borrower; instead they look at overall credit profile. However even though fico credit score is not a

http://www.brokeroutpost.com/reference/148433.htm (Updated: 08/07/2007)
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What costs will I have to pay at closing?
To avoid any surprises at closing, a good rule of thumb is to set aside an amount equal to 2-3% of the purchase price to cover expenses like the following: Prior to Closing - Earnest money deposit

http://www.brokeroutpost.com/reference/147453.htm (Updated: 08/04/2007)
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Loan-To-Value Ratio
Loan-to-Value Ratio (LTV) is one of the most important factors banks scrutinize when evaluating the potential default risk of a mortgage loan application. The LTV is derived by dividing the loan amou

http://www.brokeroutpost.com/reference/139660.htm (Updated: 07/19/2007)
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What is Underwriting a Mortgage?
Underwriting a mortgage is the process of examining data regarding a borrower's property and transaction to determine whether the mortgage applied for by the borrower should be issued.

http://www.brokeroutpost.com/reference/140225.htm (Updated: 07/16/2007)
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Loan Approval
Loan Approval means that the borrower meets the lender's qualification requirements and also its underwriting requirements. In some cases, especially where approval is provided quickly as with automat

http://www.brokeroutpost.com/reference/24246.htm (Updated: 06/27/2007)
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What are "Junk Fees"?
Many consumer watchdogs would argue that “junk fees” are any loan costs paid directly to your mortgage broker or lender. Examples of this would be fees paid to your broker for “processing” your loan

http://www.brokeroutpost.com/reference/130406.htm (Updated: 06/07/2007)
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How much will closing costs be?
This amount is dependent on a number of factors including: Underwriting or processing fees vary from lender to lender. Compare your Good Faith Estimate from each lender you talk to.

http://www.brokeroutpost.com/reference/29010.htm (Updated: 05/25/2007)
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Types of closing costs
Certain areas of the country may have added closing costs, but these are the general types of closing costs you might see at closing: Attorney's or escrow fees Property taxes Pre-Paid Interes

http://www.brokeroutpost.com/reference/15734.htm (Updated: 05/16/2007)
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Online Mortgage
Not too long ago, the phrase "getting a mortgage" painted a picture of our parents driving to a local credit union with a shoe box full of income documents, and would be interviewed by a loan officer

http://www.brokeroutpost.com/reference/30716.htm (Updated: 04/12/2007)

How much can I afford
How much house can I afford is a very popular question among homebuyers. The main factor to determine this is your debt to income ratio, or DTI. Different lenders have different requirements and guide

http://www.brokeroutpost.com/reference/23726.htm (Updated: 04/04/2007)
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Underwriting
Underwriting - The process of analyzing a loan application to determine the amount of risk for the lender making the loan. Underwriting involves evaluating the borrower’s creditworthiness and the prop

http://www.brokeroutpost.com/reference/109799.htm (Updated: 04/04/2007)
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"Banks Compete" Model of rate Shopping
I am sure lots of you know about this model of business. You go online fill out a form with your personal and loan information and Voila, in minutes you have 4 professionals who will quote you their b

http://www.brokeroutpost.com/reference/78130.htm (Updated: 12/30/2006)
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Get Your Loan Faster!
While there are many factors in how quickly your loan can get approved and ultimately funded, there are a few things you can do to help everything go smoothly. First of all be prepared to respond to

http://www.brokeroutpost.com/reference/26284.htm (Updated: 06/01/2006)

The Loan Process (Start to Finish)
The Loan Process begins with an initial consultation between the borrower and the broker. During the first conversation, it is extremely important for the borrower to discuss what they hope to accomp

http://www.brokeroutpost.com/reference/18720.htm (Updated: 04/21/2006)

Commercial Loans
Commercial Financing is underwritten on a case by case basis. Every loan application is unique and evaluated on its own merits, but there are a few common criteria lenders look for in commercial loan

http://www.brokeroutpost.com/reference/13066.htm (Updated: 04/20/2006)
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Underwriting
This process is usually performed by an "underwriter" who evaluates the borrowers credit, collateral value, and risk involving the loan. After calculating those factors the underwriter will then make

http://www.brokeroutpost.com/reference/13630.htm (Updated: 03/14/2006)

The Underwriting Process
The underwriting process occurs when a new loan file is submitted to a lender. They look at every detail of the loan to see if it is an acceptable risk. Afterward, they deny the loan of offer a 'con

http://www.brokeroutpost.com/reference/26299.htm (Updated: 03/09/2006)
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Underwriting
Underwriting is a crucial part to the loan process. Underwriting is the step in which your loan application goes through review and is either approved or denied. There are different types of ways your

http://www.brokeroutpost.com/reference/25744.htm (Updated: 03/06/2006)
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The Lending Process
The Lending process starts with interest from the borrower in either buying a home or refinancing. When thinking about buying a home many people start to look for houses first. The first step should

http://www.brokeroutpost.com/reference/13642.htm (Updated: 02/19/2006)

Closing Costs
Closing Costs Explained Closing costs are the actual expenses that the lender incurs in the origination of a new home loan. Some of the costs are related to your loan application, such as the expen

http://www.brokeroutpost.com/reference/18240.htm (Updated: 02/19/2006)

Reasons Loan Applications Are Rejected
Not realizing you are self-employed. First-time buyers who are self-employed (which can include working at home, being paid by commission only, or owning 25 percent or more of a business) often need t

http://www.brokeroutpost.com/reference/15575.htm (Updated: 02/19/2006)

1003 Application
The first step in the official loan approval process; this form is used to record important information about the potential borrower necessary to the underwriting process.

http://www.brokeroutpost.com/reference/10972.htm (Updated: 02/13/2006)

Flat Fee Mortgage
Flat fee mortgages typically only cover the lender's costs such as processing fees, underwriting fees, tax service fees (used to set up an escrow account) and credit report costs.

http://www.brokeroutpost.com/reference/14517.htm (Updated: 02/06/2006)

Underwriting
The process of analyzing a loan application to determine the amount of risk involved in making the loan; it includes a review of the potential borrower's credit history and a judgment of the property

http://www.brokeroutpost.com/reference/11058.htm (Updated: 02/01/2006)

Portfolio Loan
A mortgage loan that is held as an investment by a bank , rather than being sold on the secondary market. It is usually due to the fact that the loan does not comply with the underwriting guidelines

http://www.brokeroutpost.com/reference/19613.htm (Updated: 01/26/2006)

UNDERWRITING

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