DTI Manual Underwriting Guidelines
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DTI Manual Underwriting Guidelines on FHA and VA Loans

ByAlex Carlucci Posted on

The DTI Manual Underwriting Guidelines for FHA and VA loans are quite alike. Among home mortgage programs, only FHA and VA loans permit manual underwriting. There is common confusion regarding the distinctions between manual underwriting and files approved by an automated underwriting system (AUS). While manual and AUS-approved underwriting fundamentally serve the same purpose, manual…

FHA Total Scorecard
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Revised FHA Total Scorecard Underwriting Guidelines

ByGustan Cho Posted on

This blog will cover the FHA Total Scorecard and how it works. The United States Department of Housing and Urban Development (HUD) FHA TOTAL Scorecard enables mortgage underwriters to analyze and evaluate mortgage borrowers’ overall credit/income worthiness and instant automated eligibility or denial by FHA. Borrowers who want to qualify for FHA loans need to…

automated approval
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Automated Approval By The Automated Underwriting System

ByGustan Cho Posted on

In this blog, we will cover and discuss the automated approval by the automated underwriting system. It is key to get an approve/eligible per the automated underwriting system for the mortgage process to go forward. In the event the borrower cannot get an approve/eligible and gets a refer/eligible per AUS findings, the file can be…

HUD Bankruptcy Guidelines
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HUD Bankruptcy Guidelines After Chapter 7 And Chapter 13

ByGustan Cho Posted on

This article will discuss HUD bankruptcy guidelines following Chapter 7 and Chapter 13 bankruptcy, particularly about FHA loans. HUD Bankruptcy Guidelines affirm that individuals can become eligible for FHA loans after Chapter 7 and Chapter 13 Bankruptcy filings. Many prospective homebuyers, particularly those entering the market for the first time, may erroneously believe that obtaining…

HUD Late Payment Mortgage Guidelines
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HUD Late Payment Mortgage Guidelines During Chapter 13

ByAlex Carlucci Posted on

This blog will discuss HUD late payment mortgage guidelines during the Chapter 13 Bankruptcy repayment plan. HUD and VA are the only two mortgage loan programs that allow borrowers in an active Chapter 13 Bankruptcy repayment plan to qualify for an FHA and VA loan. However, the key is to have been timely on all…

HUD Manual Underwriting DTI Guidelines And Compensating Factors
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HUD Manual Underwriting DTI Guidelines on FHA Loans

ByEric Jeanette Posted on

This guide covers HUD manual underwriting DTI guidelines on FHA loans. HUD manual underwriting DTI guidelines is dependent on the number of compensating factors. FHA and VA loans are the only two loan programs that allow manual underwriting. On approve/eligible per automated underwriting system findings, borrowers can have a maximum 46.9% front end and 56.9%…

Asset And Reserves

Asset And Reserves Requirements And Guidelines For Mortgages

ByGustan Cho Posted on

This Article Is About Asset And Reserves Requirements And Guidelines For Mortgages Homebuyers applying for a mortgage are going to be asked for asset and reserves on their mortgage application. Lenders will want to know where the down payment and closing costs are coming from. Lenders also require the applicant’s bank account information as well…