Table of Content
Mortgage Basics
- What is a Mortgage?
- Monthly Payment
- Escrow Account
- Types of Loans
- Pre-qualification and pre-approval
- APR
- Points and Pre-Payment Penalty
- Standard Mortgage Forms
- Government-Sponsored Enterprise (GSE)
- Loan Processing
- Common Mortgage Terms
- Mortgage Terminology
Underwriting Basics
- Underwriter Role
- Underwriting Elements
- Underwriting Process
- Types of Underwriting
- Mortgage Underwriting
- Types of Mortgage Jobs
- 4 C’s
- Loan Stacking
- Origination
- Underwriter Skills and Duties
Advanced Underwriting
- Reference Guides
- Agency Guidelines
- AUS Findings
- Forms 1003 & 1008
- Credit Report Review
- Credit Analysis
- General Income Information
- Assessing Income
- Assessing Assets
- Appraisals
FHA/VA Underwriting
- FHA Program
- Borrower Eligibility
- Mortgage Parameters
- Mortgage Insurance
- VA Entitlement & Guaranty
- VA Credit Underwriting
Due Diligence
- Due Diligence Basics
- Automated Underwriting
- Manual Underwriting
- Compensating Factors
- Identifying Red Flags
Calculating Income, LTV & DTI
- Automated Income Validation
- Wage and Income Calculation
- LTV/CLTV/HCLTV
- Debt-To-Income Ratios
Appraisal Review
- Appraisers Responsibilities
- Lenders Responsibilities
- UAD and UCDP
- Collateral Underwriter (CU)
- Appraisal Forms
- FHA Considerations
Tax Returns Analysis
- Self-Employment Business Structures
- Cash Flow Analysis Forms Review
- Tax Cuts and Jobs Act (TCJA)
- 2017 and 2018 IRS 1040 Individual Tax Return
- Financial Statements
- Sole Proprietorship
- 1120S Analysis, 1120S K1
- Partnership & Partnership Business Analysis
- Limited Liability Company (LLC)
- Analyzing Corporations
- Royalty Payment Income
- Farming Income
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