Contents7 Questions Every Borrower SHOULD ask a Loan Officer#1 How long have you been a mortgage lender?  7 Questions Every Borrower SHOULD ask a Loan Officer That could save you thousands on your next mortgage #1 How long have you …

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According to findings by the Autism Society this year 1 in 68 births will be affected by Autism spectrum disorders. With such staggering numbers it’s probably no surprise that my own son has disorders which have recently been added to …

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In this Google Hangout we discuss the recent changes to the USDA Rural Development Loan Program

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Most people are unaware of CLUE Reports and how they affect property ownership and protection. CLUE Reports include not only accepted claims, but denied claims and inquiries. They are meant to be a comprehensive record of all loss history on you as an individual and on a property.

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Contrary to many schools of thought there are still mortgage loan programs which permit the use of gifted funds for some or even all of a borrower’s down payment. In this post, we will focus on FHA loans specifically. Although …

When are Gift Funds Allowed? Read more »

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The new federal agency Consumer Finance Protection Bureau’s  (CFPB) Qualified Mortgage & Ability To Pay  (ATR) regulations require mortgage lenders in Raleigh and Cary and all other US markets to clearly establish and document a borrower’s ability to be expected …

FAQ – What is a ‘Qualified Mortgage’? Read more »

Ability to Repay Basic Eight Requirements

2014 brings with it many new rules established by this new regulator that have significant impacts not only on the type of loans that consumers have access to but how they are delivered. The rule set minimum requirements that a creditor must consider in making the ability‐to‐repay determination. Eight factors must be considered, at a minimum, in the underwriting evaluation process:

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New Mortgage Escrow Rules for January 2014 Nearly three years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act ,  a response to the mortgage crisis of 2007-2008 that has left …

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One of the most common cause of foreclosure is misstated or overstated income. Since the mortgage meltdown of 2008, and because of increased accountability to Washington, lenders are now required to take extra steps to verify that borrowers have the …

FAQ – What is a IRS Request for Transcript of Tax Return (4506t) Read more »

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