Tag Archive for: Underwriting

Closing Your Home Loan In Five Easy Steps

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There are quite a few steps to this process, and we understand that it can lead to confusion and frustration if buyers are unaware of the process. To help alleviate some of the confusion, we've outlined the closing process in five easy steps so that borrowers know what is required in order to close their loan.Read More

How Monkeys Close Loans in 10 Days; Purchases? Not So Much…

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30-MINUTE LOANS Closing a conforming (Fannie/Freddie) refinance for a W2’d employee with good credit can take less than 30 minutes of effort on the part of a lender. This is […]Read More

Rates Have Not Been This High Since… 2021

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RATES HAVE NOT BEEN THIS HIGH SINCE 2021! I thought I would put interest rates in perspective again, given that they have risen so much (1/4% to 3/8%) since last […]Read More

Do Some Loans And Lenders Require More Work From Borrowers?

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MASSIVE TECH SPEND – FOR BORROWERS We spend about $750,000 per year on various technology applications with the primary goal of making the mortgage process as simple and as efficient […]Read More

Correlating To Borrower With The Lowest Credit Score

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We received negative feedback from a frustrated borrower last week because we correlated our interest rate quote to her husband’s lower credit score (low 600s) when her score was in the 800s.Read More

JVM Is A “Direct Lender” – Does It Matter?

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A few weeks ago, we had an appraisal come in under contract price for the usual reason – the total absence of bracketing comparable sales in a very hot market. […]Read More

Average Closing Costs For Homebuyers In Texas

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Generally, when a lender refers to “closing costs” they are referencing the fees required as a result of a property transaction. Closing costs can be broken down into two basic categories: Lender Origination Fees and Third-Party Fees.Read More

Protect Your Local Lender :) (Even If It Is Not Us)

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I remember the vicious phone call vividly. I took BART into the City on a Friday night to meet my wife Heejin for a date and was climbing the stairs […]Read More

Beyoncé & Jay-Z’s Mega Mortgage, Celebrities Who Went Broke; Why We Underwrite

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What do Jay-Z, Beyoncé, and billionaire hedge fund managers have in common besides enormous amounts of money? Answer: Enormous Mortgages Jay-Z and Beyoncé just bought a house for $88 million […]Read More

The Mortgage Underwriting Process Explained

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Underwriters make sure that every compliance box is checked, every possible issue is addressed, and ensure the loan can be salable in the secondary market.Read More

Understanding the Different Types of Home Loans

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Home loans can be confusing, with terms like FHA, VA, conforming, jumbo, and non-QM often used interchangeably. But each type of loan has distinct features, requirements, and benefits. Here’s a breakdown of the main mortgage categories to help borrowers understand their options.Read More

Changing Close of Escrow Date – Easier Said Than Done

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When we have long close of escrows, we often get loan documents to title days or even weeks before the close of escrow. Sometimes realtors then want to move up […]Read More

Loans = Compliance, Box-Checking, Salability; Not Logic Ever

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We have a jumbo borrower right now who is pulling his hair out b/c he is extremely well-qualified but still getting conditioned to death by an underwriter. His file is […]Read More

Cannot Give Value to Un-Permitted Space, In Most Cases

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Un-permitted spaces can derail a loan if not handled correctly. Most lenders allow them, but appraisers must not assign full value unless specific criteria are met.Read More