Emily B.

If a debt is reflected on the borrower’s credit report, the borrower is personally liable for the debt and it must be included in the debt-to-income ratio. Debts paid by the borrower’s business or ...

Any known and active litigation involving the Borrower, including bankruptcy, foreclosure, deed-in-lieu, pre- foreclosure, short sale, judgments, tax liens, collection accounts, and charge-offs are...

When a monthly student loan payment is provided on the credit report, that amount may be used for qualifying purposes.If the credit report does not reflect the correct monthly payment, the monthly ...

Revolving debt is open-ended debt in which the principal balance may vary from month to month. The minimum required payment as stated on the credit report or current account statement should be use...

Installment debt is a monthly obligation with fixed payments and terms. Payments on installment loans must be included in the Borrower’s debt-to-income ratio. Payments can be excluded if there are ...

Monthly alimony, child support, or separate maintenance fees must be included in the borrower’s debt-to-income ratio. The file should contain supporting documentation as evidence of the obligation,...

Step 1Borrowers can connect to their personal and business bank accounts with Plaid CRA.Note: A minimum 680 FICO is required to utilize business bank accounts.Plaid CRA communicates directly with t...

Overview Qualified borrowers are invited to submit a prequalification application.A borrower and/or Mortgage Loan Officer (MLO) may submit the application for pre-screening using a waterfall approa...

Step 1For W2 borrowers only, the lender accepts The Work Number (TWN) or Truwork for a direct match into a payroll system. If there is a successful hit, then the employment history is pulled for pa...

Collections and charge offs must be paid off at or before closing. Exception: They may remain open when they are:Less than twenty-four (24) months old with a maximum loan balance of $2,000;Twenty-f...