Some federal regulators
think loan underwriting has become too aggressive, although they're not taking action right now.
Not exact matches
«If a lender knows that it can sell a
loan as soon as the
loan is made, do you
think that
loan will be
underwritten with the same diligence as a non-SBA guaranteed
loan held on that lender's books?»
I was doing comments today for one of the regulators on whether or not they should allow different credit scores for
underwriting loans — What do you guys
think?
This is why it is highly recommended no matter how confident you
think your
loan will be approved, that you maximize protection of your earnest money by starting your
loan application and submission to
underwriting well before you start looking for homes.
I
think the
loan might have to be manually
underwritten.
@Roland Brown, I don't
think it's hard at all to use the money for hard money lending; the question is lending to the right people, properly
underwriting the
loan so that you minimize the risk - or having someone you trust doing that for you.
The basic definition of fees and points covers what is often traditionally
thought of in the industry as charges relating to originating the mortgage
loan, such as origination and
underwriting charges.
Unlike banks, MoFin actually puts
thought into
underwriting decisions so you can close more
loans for your clients
Although the above has to do with
underwriting the
loan and not after it's closed it provides some insite to conventional guidelines
thought.
I ask you to
think about what more you can do to protect and promote self - reliance and home ownership — like asking policy makers to help dial
underwriting standards to normal, well - functioning levels and to do no harm to the recovery by toying with the mortgage interest deduction or
loan limits.