This is a single-family/residential course.
MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Residential Underwriting Basics, which is no longer available for retail purchase.
Underwriting mortgage loans involves applying requirements and guidelines that have been established by secondary market investors or lenders. Specific eligibility requirements are applied to loans based on any number of factors. This course will help you to understand and use eligibility requirements to determine if a loan is acceptable for a particular product, program, or investor.
Eligibility in Residential Underwriting begins with a brief look at how eligibility factors are used in underwriting. The remainder of the course looks at key eligibility concepts, including types of financing transactions, the loan-to-value ratio, credit scores, loan products, ability to repay, property types, occupancy, loan limits, and housing and debt ratios.
It is important to note that the concepts explained in this course are concepts that form the foundation for sound underwriting. When a loan is run through an automated underwriting system (AUS) such as Fannie Mae's Desktop Underwriter® or Freddie Mac's Loan Product Advisor®, some of the issues discussed in this course may be applied automatically.
Types of Financing
Housing and Debt Ratios
Seat time approximately one (1) hour.