Real Estate Closing
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What To Expect in The Real Estate Closing Process

ByRonda Butts Posted on

This guide will cover the frequently asked question on real estate closing. Does the real estate closing costs process different vary from state to state? We will first start discussing real estate closing and how the real estate closing process work on home purchase and refinance transactions. We will then dive into real estate closing…

Borrower Review of Gustan Cho Associates
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Borrower Review of Gustan Cho Associates

ByAlex Carlucci Posted on

In this article, we will discuss and cover the borrower review of Gustan Cho Associates. Just this past June 2, 2023, I received a frantic call from a home buyer who was extremely disturbed. This was because she learned from multiple mortgage lenders in her community that she could not qualify for a conventional loan…

Mortgage Loan Underwriting Process For Home Buyers
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Mortgage Loan Underwriting Process For Home Buyers

ByApril Ramirez Posted on

This article will cover how the mortgage loan underwriting process works. The qualification and the pre-approval process are the most important out of the mortgage process. The mortgage loan underwriter is the person that decides whether or not to approve a mortgage loan application. The mortgage underwriter is also the person who decides to issue a…

Role of Mortgage Loan Coordinator

Role of Mortgage Loan Coordinator In The Mortgage Process

ByGustan Cho Posted on

In this guide, we will cover the role of mortgage loan coordinator in the mortgage process. When borrowers apply for a mortgage and go through the process, a team of mortgage professionals is involved with every borrower. Top-producing loan officers become the best because of their business model. Here is what Alex Carlucci, the top-producing…

Errors on Credit Reports
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How Errors on Credit Reports Affect AUS FINDINGS

ByGustan Cho Posted on

In this guide, we will cover how errors on credit reports affect AUS Findings. One of the most important things to realize before a mortgage loan application can be processed and underwritten is to get a DU ( Desktop Underwriter ) automated approval by Fannie Mae’s Automated Underwriting System. Fannie Mae’s Automated Underwriting System is…

Underwriting Credit Guidelines During The Mortgage Process
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Underwriting Credit Guidelines During Mortgage Process

ByGustan Cho Posted on

This article will cover underwriting credit guidelines during the mortgage process. Mortgage borrowers should not stress during the mortgage process. There is no reason for any pre-approvals to get a last-minute mortgage denial. The main reason for a last-minute mortgage loan denial or stress during the mortgage process is the borrower’s inability to qualify by…

Ability To Repay Is Analyzed In The Home Loan Application Process
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Avoiding Delays In Getting A Conditional Mortgage Approval

ByGustan Cho Posted on

In this article, we will cover and discuss avoiding delays in getting conditional mortgage approval. There are ways of avoiding delays in getting a conditional mortgage approval and closing on time: Conditional mortgage approval is a loan commitment by the mortgage lender. A conditional mortgage approval means that the lender is ready to issue a…

Online Mortgage Application

Online Mortgage Application Leading To Clear To Close

ByMike Gracz Posted on

In this blog, we will cover and discuss online mortgage application leading to clear to close. The mortgage application process has changed over the years. There was a time when borrowers met mortgage loan officers face to face. Borrowers either met their loan officers at the mortgage company or the mortgage loan originator visited their…

How Do Underwriters Approve Mortgage Loans For Borrowers
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How Do Underwriters Approve Mortgage Loans For Borrowers

ByGustan Cho Posted on

In this blog, we will discuss and cover how do underwriters approve mortgage loans when analyzing and processing borrowers. Mortgage Underwriters play the most important role in the mortgage process. There are certain ways on how do underwriters approve mortgage loans. Underwriters are professionals who approve or deny mortgage loans. There is no reason why…

One Day Mortgage Loan Approval (1)

One Day Mortgage Loan Approval Process For Homebuyers

ByGustan Cho Posted on

In this blog, we will discuss and cover on tricks and tips in getting one day mortgage loan approval. The mortgage process does not have to stressful if the borrower is properly qualified. There are many mortgage loan applicants who get issued a pre-approval letter within 30 minutes once they contact a loan officer. Properly…

Difference Between Mortgage Lender Versus Servicer

Difference Between Mortgage Lender Versus Servicer

ByGustan Cho Posted on

This ARTICLE Is About The Difference Between Mortgage Lender Versus Servicer What are the major Difference Between Mortgage Lender Versus Servicer? We will discuss the various types of lenders in this article. The Difference Between Mortgage Lender Versus Servicer is the lender will initially fund the home loan. The lender will use their own funds…

How Mortgage Underwriters View Negative Credit History

How Mortgage Underwriters View Negative Credit History

ByGustan Cho Posted on

This Article Is About How Mortgage Underwriters View Negative Credit History Mortgage Borrowers can qualify for mortgage loans with prior bad credit and negative credit history. Outstanding collection accounts and charge-off accounts do not have to be paid to qualify for home loans. Lenders understand that loss of income and unable to meet debt obligations…

Mortgage Pre-Approval

What Is A Mortgage Pre-Approval And How Is It Issued

ByGustan Cho Posted on

This Article Is About What Is A Mortgage Pre-Approval And How Is It Issued What Is A Mortgage Pre-Approval And Are All Pre Approvals The Same? Homebuyers who are shopping for a home know what a mortgage pre-approval means. Buyers of new homes need a mortgage pre-approval letter in order to be able to shop…

Buying Home Without Solid Pre-Approval

Buying Home Without Solid Pre-Approval And AUS Findings

ByGustan Cho Posted on

This Article Is About Buying Home Without Solid Pre-Approval And AUS Findings Buying Home Without Solid Pre-Approval and without Automated Underwriting System findings can be a recipe for disaster. For example, for homebuyers who have a prior Chapter 7 bankruptcy, there is a two-year waiting period for FHA and VA Loans before being eligible for…

Documents Required By Lenders To Close Mortgage On Time
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Documents Required By Lenders To Close Mortgage On Time

ByAlex Carlucci Posted on

This Article Is About Documents Required By Lenders To Close Mortgage On Time Most people dread the thought of providing documents required by lenders. The mortgage process does not have to be stressful. The number one reason for delays in the home loan process is due to borrowers not providing documents required by lenders timely…

Things To Avoid During Loan Process

Protect Your Loan Closing by Avoiding These Mistakes

ByGustan Cho Posted on

Borrowers should avoid these things during the mortgage process so their home loan closes on time. Certain things that may be innocent and unintentional could delay the clear to close. Delays in the clear to close by the mortgage underwriter will delay the closing of the home loan.

Mortgage Meltdown And Qualifying For Home Loan Today With Bad Credit

Mortgage Meltdown And Qualifying For Home Loan Today With Bad Credit

ByGustan Cho Posted on

This Article Is About The Mortgage Meltdown And Qualifying For Home Loan Today With Bad Credit Overall lack of concern, awareness, and education caused the government, banks, investors, and rating agencies from misusing and misunderstanding the financial system and ultimately causing it to collapse. Prior to the 2008 Real Estate And Mortgage Collapse, it was…