“Un-Sourced” Deposits On Bank Statements – Less of a Pain Now

Reminder: The Fed is still buying $1.6 billion of mortgage-backed securities every day. With overall mortgage volume down, this enormous “artificial” demand by the Fed is also what is keeping rates low (not just a weak economy). After the 2008 “meltdown,” Fannie and Freddie went overboard with their demand for minute conditions that often frustrate and […]Read More

“Gross Income” For DTI Calculations; Adjusting W4; Tax Benefits

Most people know that lenders only look at “Gross Income” when evaluating Debt-to-Income (DTI) ratios. In other words, lenders evaluate a borrower’s income before taxes are taken out. This sometimes makes no sense to borrowers b/c the payment they qualify for leaves them so little extra cash left over after they make their payment…IF they […]Read More