| HOI and Flood | REO | Appraisal | Assets | Credit |
|---|---|---|---|---|
|
What is A and V
What are the flood zones that require flood insurance
|
What is proof of free and clear and taxes
What documentation is needed for vacant land?
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What is parcel or legal description.
What must match on appraisal and title?
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What is anything over 50% of the borrowers qualifying income.
What is considered a large deposit?
|
What is 90 days of date ordered.
How many days from credit do we care about credit inquiries?
|
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What is 10%
What percentage is the HOI deductible considered too high?
|
What is maintenance fees?
What unique documentation is needed for co-op properties?
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What is never.
When do we condition the appraiser about the contract section of the appraisal?
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What is when it looks like new debt or possible property ownership.
On a refinance R/T a deposit over the LD threshold is made in what instances should we condition?
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What is liabilities within 60 days of DLA
What recently closed tradelines do we care about on credit?
|
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What is initial underwrite.
When is a quote acceptable for insurance policies?
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What is yes
Is a LOX acceptable for HOA dues on a REO?
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What is nothing, it must just be there.
What must be included in the sketch?
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What is leaving the borrowers account and receipt from title/cancelled check.
What is required to fully document and source an EMD?
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What is balance must be less than LD on a revolving tradeline.
What is the requirements to back out paid off liabilities from the assets?
|
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What is wind/hail supplement.
How is elective HO-6 insurance entered?
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What is never
When do we mark an REO as pending sale?
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What is marketability concerns and at least on comparable with similar adverse conditions.
What must be addressed when we have adverse site conditions on an appraisal?
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What is leaving the donors and receipt in the borrowers.
What documentation is necessary for a gift received in the borrowers account?
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What is when AUS calls it out as has to be paid.
When/Do we care about medical debt on credit?
|
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What is after disbursement.
When does the HOI policy need to be in effect on dry funding states?
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What is a LOX.
What is the acceptable documentation for free and clear of international properties.
|
What is Sleeping area
• Bathing areaCabinets, o Countertop, o Sink with running water, AND o Stove or stove hookup
What is unique to DU that makes a fixture to a property an ADU?
|
What is date of transfer.
What does DU require on gift letters?
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What is Edge dti-aus dti * income / 100
What is the formula for DTI mismatch?
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