Veronica G

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  • 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):...

  • 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...

  • 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...

  • RON Notary - Spanish Speaking

  • 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:  ...

  • 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...

  • Minimum Redraw Amount

    $1,000 for any state other than Texas$4,000 for TexasNo draw fees in any state

  • 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...

  • 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...

  • Mortgagee Clause

    HOMEBRIDGE FINANCIAL SERVICES INC.99 Wood Ave. South, Suite 301ISELIN, NJ 08830