Veronica G
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Activity overview
Latest activity by Veronica G-
Veronica G created an article,
Valuation & Appraisal Policy
Loan Amounts up to $400,000For all loans between $10,000 and $400,000, NFTYDoor utilizes automated valuation models (AVMs) in the following order of preference: Primary AVM – Clear Capital (AVM2):...
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Veronica G created an article,
Subordination of Liens
The borrower will need to subordinate the lien as long as it is lien is NOT a HELOC. This needs to be signed and notarized prior to closing. The original needs to be sent to our third-party title c...
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Veronica G created an article,
Trust Vesting Requirements
A trust is a legal entity, not something that can own/possess a property, a trustee is acting on behalf of the trust. A trustee must be listed as an owner - we have had several properties lately no...
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Veronica G created an article,
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Veronica G created an article,
Additional Draws on Funded HELOCs
Once the HELOC is on-boarded with our servicer Shellpoint Mortgage Servicing, the borrower will receive a welcome letter package and a draw book. The minimum for additional draws is as follows: ...
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Veronica G created an article,
Credit Report Debts/Liabilities
NFTYDoor uses the Experian Decision engine tool for the credit standard review. Installment Debt: Installment debt is a monthly obligation with fixed payments and terms. Payments on installment...
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Veronica G created an article,
Minimum Redraw Amount
$1,000 for any state other than Texas$4,000 for TexasNo draw fees in any state
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Veronica G created an article,
Debts Paid By Others
If a debt is reflected on the Borrower‘s Experian FICO8 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 busi...
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Veronica G created an article,
Number of Borrower and NPEs Allowed
The NFTYDoor HELOC allows for 2 borrowers on the applications. The number of NPEs on the application is limited to 4 persons. If the person is on title and is not a borrower or co-borrower, they...
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Veronica G created an article,
Mortgagee Clause
HOMEBRIDGE FINANCIAL SERVICES INC.99 Wood Ave. South, Suite 301ISELIN, NJ 08830