you a broker or loan originator who just doesn't have time to deal
with the fine details of making a loan go smoothly through DU/LP and underwriting?
can provide my skills and underwriting knowledge to help get more
loans through, give your ease of mind, alleviate your headaches and
put more money in your pocket!
background includes over 25 years in the mortgage field in varied
positions, the last 10 concentrating in Underwriting. For over 5
years I have been providing underwriting services utilizing my fully
functional home office.
taking advantage of my remote services, you gain my experience and
knowledge and don't have the costs associated with an employee -
office space, computer, supplies, and employee benefits.
not turn to someone who has been quoted on MSN.com, The Wall Street
Journal and the NY Times, as well as appeared live on CNBC providing
insight to mortgage topics and trends. I was also featured in the USA
where you can read more about me.
OPENING FOR ANOTHER CLIENT
the entire file upon receipt
involves looking at a file with an underwriter's eye including all
the red flags, such as mismatched addresses or large deposits that
are not sourced. If title binder and insurance are provided, will
review as well.
into AUS System
loan through DU/LP or other AUS (automated underwriting system)
based on a signed application, fine tuned income calculations, asset
documentation and property value. Ever had a loan that got denied
because too much income was used in the initial DU and when it got to
an underwriter they used the properly calculated income and closing
was scheduled already? This is what I can help prevent.
Tuning the AUS Feedback
a loan through DU/LP is almost always needed when all the documents
are not provided up front by the borrower or the appraisal comes in
and the value and taxes are different, which happens a lot of the
time. No limit to number of necessary resubmissions.
review of Appraisal
appraisal will be reviewed in its entirely for completeness and
errors as well as value assigned. If additional comparables are
required will include in Underwriting Summary and service does
include contacting the appraiser if requested. Prefer appraisal to be
received via email for photo clarity.
an Underwriting Summary
there are documents needed in order to submit a complete file for
formal underwriting, a summary of what is needed will be provided.
access to non FNMA/FHLMC investor's guidelines (I have access to
Allregs), I will check a given loan file with those product
guidelines or matrix to insure it meets the criteria. Many products
have specific tradelines, derogatory credit allowances, and credit
score minimums that are hard for someone busy originating loans to
Loan for Final Approval
loan file will be submitted to your investor's underwriter for
formal approval via fax. Majority of approvals result in very few if
any prior to closing conditions. Any conditions will be conveyed to
you via an updated Underwriter Summary. Upon receipt of conditions
will submit to underwriting until all PTC conditions are cleared.
of Complete File
is sent via overnight mail back to you in proper stacking order
including the investor's clear underwriting approval (and title
binder and insurance if provided) and ready for you to set up closing.
of final HUD-1 Settlement Statement
will review the final HUD-1 for accuracy. Sometimes a file is fine
until the very end when the borrower receives cash back that is not
allowed or the seller contributes more than the maximum amount toward
buyer's closing costs.
frees up more time for you to originate and get more loans closed
which means more income for you!
make myself available via phone, fax, email or Instant Messenger.
Timely turnaround time.
has been an asset to my organization for the past year. I've been
able to place more loans due to her expertise and professionalism.
She has enabled my loans to go thru without any difficulties, which
in turn has increased my productivity. I have seen a tremendous
increase since I began utilizing her services." Jeff Moore -
Moore Financial Services
have found your service to be invaluable and you have caught
mistakes that would have been very costly had they not been found
prior to settlement" NJ Mortgage Banker
can either click HERE
to email me or I may also be reached by calling (512) 868-2966.