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RC_LP_U_200.4 Asset Review in Residential Underwriting
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011107-WC-W
Quantity:
Delivery Options: N/A







Description of Product
Description:

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.

In Asset Review in Residential Underwriting, we will describe how to analyze an applicant's assets to ensure that there are sufficient funds to close and that the applicant meets program guidelines with respect to the minimum borrower contribution.

The course begins with a look at the Details of Transaction section of the loan application and considerations during its review. It then addresses acceptable sources of liquid reserves and related requirements. Next, it describes how to calculate available funds to close. Toward the end of the course, verification requirements and guidelines are reviewed for personal funds, gifts, grants, and interested party contributions (IPCs).

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 factors discussed in this course may be applied automatically.

Topics:

  • Details of Transaction
  • Liquid Reserves
  • Calculating Available Funds
  • Personal Funds
  • Gifts, Grants, and Contributions

    Seat time approximately one (1) hour.

    Copyright 2017.

     
  •  
    Product Category:
    Self-Study Web-Based Courses 
     
    Notes:
    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course. 
     
    Contact Info:

    For registration information, call (800) 793-6222 or email education@mba.org.

     
     
    Contact E-mail:
    education@mba.org 
     
    Product:
    DL2-011107-WC-W 
     
    Title:
    RC_LP_U_200.4 Asset Review in Residential Underwriting 
     
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