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US Residential Mortgage Underwriting Table of Contents


Table of Content
 

 

Mortgage Basics

  • What is a Mortgage?
  • Monthly Payment
  • Escrow Account
  • Types of Loans
  • Pre-qualification and pre-approval
  • APR
  • Points and Pre-Payment Penalty
  • Standard Mortgage Forms
  • Government-Sponsored Enterprise (GSE)
  • Loan Processing
  • Common Mortgage Terms
  • Mortgage Terminology

Underwriting Basics

  • Underwriter Role
  • Underwriting Elements
  • Underwriting Process
  • Types of Underwriting
  • Mortgage Underwriting
  • Types of Mortgage Jobs
  • 4 C’s
  • Loan Stacking
  • Origination
  • Underwriter Skills and Duties

Advanced Underwriting

  • Reference Guides
  • Agency Guidelines
  • AUS Findings
  • Forms 1003 & 1008
  • Credit Report Review
  • Credit Analysis
  • General Income Information
  • Assessing Income
  • Assessing Assets
  • Appraisals

FHA/VA Underwriting

  • FHA Program
  • Borrower Eligibility
  • Mortgage Parameters
  • Mortgage Insurance
  • VA Entitlement & Guaranty
  • VA Credit Underwriting

Due Diligence

  • Due Diligence Basics
  • Automated Underwriting
  • Manual Underwriting
  • Compensating Factors
  • Identifying Red Flags

Calculating Income, LTV & DTI

  • Automated Income Validation
  • Wage and Income Calculation
  • LTV/CLTV/HCLTV
  • Debt-To-Income Ratios

Appraisal Review

  • Appraisers Responsibilities
  • Lenders Responsibilities
  • UAD and UCDP
  • Collateral Underwriter (CU)
  • Appraisal Forms
  • FHA Considerations

Tax Returns Analysis

  • Self-Employment Business Structures
  • Cash Flow Analysis Forms Review
  • Tax Cuts and Jobs Act (TCJA)
  • 2017 and 2018 IRS 1040 Individual Tax Return
  • Financial Statements
  • Sole Proprietorship
  • 1120S Analysis, 1120S K1
  • Partnership & Partnership Business Analysis
  • Limited Liability Company (LLC)
  • Analyzing Corporations
  • Royalty Payment Income
  • Farming Income


Apply for certification

https://www.vskills.in/certification/accounting-banking-and-finance/US-Residential-Mortgage-Underwriting