November 10, 2011
1.) When Loan Officers issue pre-approvals without reviewing the relevant bank statements, pay stubs, and tax returns. We all know that virtually every loan program requires these documents and that underwriters examine them closely. Loan Officers should obtain these documents and address potential challenges (like large deposits, payroll deductions, and unreimbursed expenses) up front. Issuing [...]
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October 27, 2011
At a campaign stop in Nevada on Monday, President Obama announced an expansion of the HARP (Home Affordable Refinance Program) which would eliminate the current maximum LTV of 125%. The initiative is being looked at as a way to reward those homeowners who have been good payers of their mortgages but, because of declining home [...]
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